Auction Results: Modern and Contemporary Photographs, October 26, 2018 @Grisebach

The top lot Thomas Struth jungle scene found a buyer at the recent Modern and Contemporary Photographs sale at Grisebach in Berlin, but that alone wasn’t enough to pull the entire sale into positive territory. Ten positive surprises were balanced by an overall Buy-In rate that came in over 40%, leading to Total Sale Proceeds that fell 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 190
Pre Sale Low Total Estimate €761800
Pre Sale High Total Estimate €1063800
Total Lots Sold 112
Total Lots Bought In 78
Buy In % 41.05%
Total Sale Proceeds €668374

Here is the breakdown (using our typical Low, Mid, and High definitions):

Detailed Breakdown
Low Total Lots 161
Low Sold 96
Low Bought In 65
Low Buy In % 40.37%
Total Low Estimate €465800
Total Low Sold €274624
Mid Total Lots 25
Mid Sold 14
Mid Bought In 11
Mid Buy In % 44.00%
Total Mid Estimate €347000
Total Mid Sold €227500
Total High Lots 4
High Sold 2
High Bought In 2
High Buy In % 50.00%
Total High Estimate €260000
Total High Sold €166250

The top lot by High estimate was lot 2106, Thomas Struth, Paradise 24, San Francisco de Xavier, 2001, estimated at €60000-80000. It was also the top outcome of the sale at €95000 (image above, via Grisebach).

95.54% of the lots that sold had proceeds in or above the estimate range and there were a total of 10 positive surprises in the sale (defined as having proceeds of at least double the high estimate) (images above, via Grisebach):

Lot 2010, Umbo, The 3 Codonas at work, c1932, estimated at €1500-2000, sold at €10000

Lot 2013, Hans Hammarskiöld, Capriole, 1952/1980, estimated at €1000-1200, sold at €3125

Lot 2014, Robert Doisneau, Le manège de Monsieur Barré, Place de la Mairie, Paris, 1955/later, estimated at €3000-4000, sold at €11875

Lot 2021, Phil Stern, James Dean with photographers Dennis Stock and Gjon Mili, 1955/1989, estimated at €1000-1500, sold at €7500

Lot 2036, Albert Renger-Patzsch, Rails in a coal mine near Dortmund, 1934, estimated at €1500-2000, sold at €7125

Lot 2121, Michael Wesely, Point Lobos, 2000, estimated at €7000-9000, sold at €25000

Lot 2136, Walde Huth, Baulandener Keramik, 1949, estimated at €400-600, sold at €2125

Lot 2147, Boris Ignatovich, In the Bath, 1935, estimated at €1500-2000, sold at €8125

Lot 2151, Pierre Boucher, Lisa Fonssagrives nue et voile, 1935/1938, estimated at €700-900, sold at €1875

Lot 2180, Ludwig Mies van der Rohe, German Pavilion. World Fair, Barcelona, 1928/1929, estimated at €3000-4000, sold at €8125

Complete lot by lot results can be found here.

Albert Renger-Patzsch, Boris lgnatovich, Hans Hammarskiöld, Michael Wesely, Phil Stern, Pierre Boucher, Robert Doisneau, Thomas Struth, Umbo (Otto Umbehr), Walde Huth, Villa Grisebach Auktionen

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