A selection of higher priced photo lots in the contemporary art sale pushed the tally up at the recent run of Contemporary Art and Photography Online Only sales at Grisebach in Berlin last week, but an overall Buy-In rate across the two sales topping 57% drove the combined results down. A set of David Hockney photographs took the top lot honors, but the Total Sale Proceeds (of roughly €455K) came in well below the low end of the aggregate pre-sale estimate range.
The summary statistics are below (all results include the buyer’s premium):
| Summary Statistics | |
|---|---|
| Total Lots | 145 |
| Aggregate Pre Sale Low Estimate | €633900 |
| Aggregate Pre Sale High Estimate | €880900 |
| Total Lots Sold | 62 |
| Total Lots Bought In | 83 |
| Buy In % | 57.24% |
| Total Sale Proceeds | €457060 |
Here is the breakdown (using our typical Low, Mid, and High definitions). Given recent currency fluctuations, we have once again re-adapted our local currency thresholds to match roughly $10000 and $50000 break points between categories.
| Detailed Breakdown | |
|---|---|
| Low Total Lots | 126 |
| Total Low Lots Sold | 51 |
| Total Low Lots Bought In | 75 |
| Low Buy In % | 59.52% |
| Aggregate High Estimate of Low Lots | €403900 |
| Total Proceeds from Low Lots | €152060 |
| Mid Total Lots | 18 |
| Total Mid Lots Sold | 11 |
| Total Mid Lots Bought In | 7 |
| Mid Buy In % | 38.89% |
| Aggregate High Estimate of Mid Lots | €397000 |
| Total Proceeds from Mid Lots | €305000 |
| Total High Lots | 1 |
| Total High Lots Sold | 0 |
| Total High Lots Bought In | 1 |
| High Buy In % | 100.00% |
| Aggregate High Estimate of High Lots | €80000 |
| Total Proceeds from High Lots | €0 |
The top lot by High estimate was lot 792, Andreas Gursky, Heidelberg Ost., 1993, estimated at €60000-80000; it did not sell. The top photography outcome of the sales was lot 2329, David Hockney, Twenty Photographic Pictures (16 prints outside edition), 1970-1975/1976, estimated at €10000-15000, sold at €44375 (image above, via Grisebach).
100.00% of the lots that sold had proceeds in or above the estimate range and there were a total of 5 positive surprises in the sales (defined as having proceeds of at least double the high estimate) (images above, via Grisebach):
Lot 757, Günter Brus, Selbstbemalung II (20 prints), 1964, estimated at €12000-15000, sold at €31250
Lot 2302, Thomas Demand, Detail XII, 2005, estimated at €1500-2000, sold at €5125
Lot 2313, Arno Fischer, New York, Staten Island Ferry, 1978, estimated at €1200-1500, sold at €6500
Lot 2318, Daniel Frasnay, Atelier d’Alberto Giacometti photographié au lendemain de sa mort, 1966/1991, estimated at €700-900, sold at €3250
Lot 2329, David Hockney, Twenty Photographic Pictures (16 prints outside edition), 1970-1975/1976, estimated at €10000-15000, sold at €44375
Complete lot by lot results can be found here (Contemporary Art) and here (Photography).
