The photography sprinkled throughout the various modern and contemporary art sales at Van Ham in Cologne last week generally delivered predictable results. The top photo lot Gerhard Richter work found a buyer within its estimate range, but with an overall Buy-In rate for photography above 32% (with one additional withdrawal) and just one positive surprise, the Total Sale Proceeds for photography (of roughly €965K) 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 | 76 |
| Aggregate Pre Sale Low Estimate | €1136900 |
| Aggregate Pre Sale High Estimate | €1670300 |
| Total Lots Sold | 51 |
| Total Lots Bought In | 25 |
| Buy In % | 32.89% |
| Total Sale Proceeds | €966448 |
Here is the breakdown (using our typical Low, Mid, and High definitions):
| Detailed Breakdown | |
|---|---|
| Low Total Lots | 36 |
| Total Low Lots Sold | 24 |
| Total Low Lots Bought In | 12 |
| Low Buy In % | 33.33% |
| Aggregate High Estimate of Low Lots | €176300 |
| Total Proceeds from Low Lots | €121828 |
| Mid Total Lots | 25 |
| Total Mid Lots Sold | 19 |
| Total Mid Lots Bought In | 6 |
| Mid Buy In % | 24.00% |
| Aggregate High Estimate of Mid Lots | €404000 |
| Total Proceeds from Mid Lots | €324060 |
| Total High Lots | 15 |
| Total High Lots Sold | 8 |
| Total High Lots Bought In | 7 |
| High Buy In % | 46.67% |
| Aggregate High Estimate of High Lots | €1090000 |
| Total Proceeds from High Lots | €520560 |
The top photography lot by High estimate was lot 34, Gerhard Richter, Mustangs, 2005, estimated at €120000-180000; it was also the top photography outcome of the sales at €132000 (image above, via Van Ham).
86.27% of the lots that sold had proceeds in or above the estimate, and there was just 1 positive surprise in the sales (defined as having proceeds of at least double the high estimate)(image above, via Van Ham):
Lot 263, F.C. Gundlach, Judy Dent im Saga Nerz, Avus-Berlin, 1962/1989, estimated at €1500-2000, sold at €4356
Complete lot by lot results can be found here.
