With just 40% of the lots that sold selling at or above their estimate ranges at the Autumn Photo Auction at OstLicht in Vienna last week, even with an overall Buy-In rate under 26%, there was too much pressure on prices to generate much momentum. While a handful of positive surprises helped offset the numbers a bit, and the middle price tier sold through well, when the dust settled, the Total Sale Proceeds came in at roughly €580K, below the aggregate pre-sale estimate range.
The summary statistics are below (all results include the 20% non-EU buyer’s premium):
| Summary Statistics | |
|---|---|
| Total Lots | 231 |
| Aggregate Pre Sale Low Estimate | €656400 |
| Aggregate Pre Sale High Estimate | €783600 |
| Total Lots Sold | 171 |
| Total Lots Bought In | 60 |
| Buy In % | 25.97% |
| Total Sale Proceeds | €580140 |
Here is the breakdown (using our typical Low, Mid, and High definitions):
| Detailed Breakdown | |
|---|---|
| Low Total Lots | 221 |
| Total Low Lots Sold | 161 |
| Total Low Lots Bought In | 60 |
| Low Buy In % | 27.15% |
| Aggregate High Estimate of Low Lots | €580600 |
| Total Proceeds from Low Lots | €388140 |
| Mid Total Lots | 10 |
| Total Mid Lots Sold | 10 |
| Total Mid Lots Bought In | 0 |
| Mid Buy In % | 0.00% |
| Aggregate High Estimate of Mid Lots | €203000 |
| Total Proceeds from Mid Lots | €192000 |
| Total High Lots | 0 |
| Total High Lots Sold | NA |
| Total High Lots Bought In | NA |
| High Buy In % | NA |
| Aggregate High Estimate of High Lots | €0 |
| Total Proceeds from High Lots | €0 |
The top lot by High estimate was lot 7, Wilhelm von Gloeden, Cain, Taormina, Italy, c1902/1913, estimated at €30000-35000; it sold at €22800, but was not the top outcome of the sale. That honor went to lot 34, Rudolph Koppitz, Bewegungsstudie (Movement Study), c1930, estimated at €20000-24000, sold at €54000 (image above, via OstLicht).
Only 38.19% of the lots that sold had proceeds in or above the estimate range and there were a total of 6 positive surprises in the sale (defined as having proceeds of at least double the high estimate) (images above, via OstLicht):
Lot 28, André Kertész, Tisza Szalka (Feeding the Ducks in the Late Afternoon), 1924/1980, estimated at €1400-1600, sold at €6000
Lot 34, Rudolf Koppitz, Bewegungsstudie (Movement Study), c1930, estimated at €20000-24000, sold at €54000
Lot 39, Steffi Brandl, Portrait of a Woman, Vienna, Austria, c1924, estimated at €1400-1600, sold at €4560
Lot 128, Hans Truöl, Skier Crossing Grossglockner-Hochalpenstrasse, Arlberg, Austria, 1959, estimated at €600-800, sold at €1920
Lot 174, Philip Jones Griffiths, Yankee Station in the South China Sea, Vietnam War, 1971, estimated at €2000-2400, sold at €5400
Lot 230, Andrei Liankevich, Untitled (Wild Boar) from the series Fake Animals, 2011, estimated at €1000-1200, sold at €2880
Complete lot by lot results can be found here.
