With just 20% of the lots that sold selling at or above their estimate ranges at the Spring Photo Auction at OstLicht in Vienna last week, even with an overall Buy-In rate under 30%, there was too much pressure on prices to generate a notable outcome. While a few positive surprises helped offset the downward push a bit, and the middle price tier sold through well, when the dust settled, the Total Sale Proceeds came in at roughly €550K, 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 | 208 |
| Aggregate Pre Sale Low Estimate | €670200 |
| Aggregate Pre Sale High Estimate | €798800 |
| Total Lots Sold | 147 |
| Total Lots Bought In | 61 |
| Buy In % | 29.33% |
| Total Sale Proceeds | €558420 |
Here is the breakdown (using our typical Low, Mid, and High definitions):
| Detailed Breakdown | |
|---|---|
| Low Total Lots | 191 |
| Total Low Lots Sold | 131 |
| Total Low Lots Bought In | 60 |
| Low Buy In % | 31.41% |
| Aggregate High Estimate of Low Lots | €533800 |
| Total Proceeds from Low Lots | €298020 |
| Mid Total Lots | 17 |
| Total Mid Lots Sold | 16 |
| Total Mid Lots Bought In | 1 |
| Mid Buy In % | 5.88% |
| Aggregate High Estimate of Mid Lots | €265000 |
| Total Proceeds from Mid Lots | €260400 |
| 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 135, Rudolf Schwarzkogler, 3rd Action, Vienna, May 1965, 1965/1973, estimated at €24000-28000; it sold at €22800, but was not the top outcome of the sale. That honor went to lot 15, Anton Giulio Bragaglia, The Cellist, 1913, estimated at €14000-18000, sold at €66000 (image above, via OstLicht).
Only 20.41% of the lots that sold had proceeds in or above the estimate range and there were a total of 4 positive surprises in the sale (defined as having proceeds of at least double the high estimate) (images above, via OstLicht):
Lot 15, Anton Giulio Bragaglia, The Cellist, 1913, estimated at €14000-18000, sold at €66000
Lot 30, Trude Fleischmann, The dancer Claire Bauroff, Vienna, c1930, estimated at €1600-1800, sold at €3840
Lot 94, Robert Capa, Collaborator, Chartres, August 16, 1944, 1944/1970s, estimated at €2200-2600, sold at €5400
Lot 102, Philippe Halsman,‘Dali Atomicus’, New York 1948, 1948/later, estimated at €3000-3600, sold at €14400
Complete lot by lot results can be found here.
