The recent contemporary art sale at Grisebach in Berlin last week didn’t include much photography, and the lots that were available didn’t perform all that strongly. The top lot Arnulf Rainer overpainted portrait didn’t sell, and between an overall Buy-In rate for photography topping 47% and no positive surprises, the Total Sale Proceeds for photography (of roughly €185K) slumped 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 | 17 |
| Aggregate Pre Sale Low Estimate | €279000 |
| Aggregate Pre Sale High Estimate | €389000 |
| Total Lots Sold | 9 |
| Total Lots Bought In | 8 |
| Buy In % | 47.06% |
| Total Sale Proceeds | €186055 |
Here is the breakdown (using our typical Low, Mid, and High definitions):
| Detailed Breakdown | |
|---|---|
| Low Total Lots | 4 |
| Total Low Lots Sold | 2 |
| Total Low Lots Bought In | 2 |
| Low Buy In % | 50.00% |
| Aggregate High Estimate of Low Lots | €29000 |
| Total Proceeds from Low Lots | €15875 |
| Mid Total Lots | 11 |
| Total Mid Lots Sold | 7 |
| Total Mid Lots Bought In | 4 |
| Mid Buy In % | 36.36% |
| Aggregate High Estimate of Mid Lots | €230000 |
| Total Proceeds from Mid Lots | €170180 |
| Total High Lots | 2 |
| Total High Lots Sold | 0 |
| Total High Lots Bought In | 2 |
| High Buy In % | 100.00% |
| Aggregate High Estimate of High Lots | €130000 |
| Total Proceeds from High Lots | €0 |
The top lot by High estimate was lot 743, Arnulf Rainer, Christus-Übermalung, 1983/84, estimated at €50000-70000; it did not sell. The top photography outcome of the sales was lot 722, Thomas Ruff, bi01, 2007, estimated at €30000-40000, sold at €38100 (image above, via Grisebach).
100.00% of the lots that sold had proceeds in or above the estimate range and there were no positive surprises in the sales (defined as having proceeds of at least double the high estimate).
Complete lot by lot results can be found here.
