With only 40% 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 just wasn’t enough interest to push the overall numbers upward. Two prints by Ren Hang jumped well above their estimate ranges, but when the tally was finished, the Total Sale Proceeds came in at roughly €640K, 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 | 219 |
| Aggregate Pre Sale Low Estimate | €704400 |
| Aggregate Pre Sale High Estimate | €870400 |
| Total Lots Sold | 160 |
| Total Lots Bought In | 59 |
| Buy In % | 26.94% |
| Total Sale Proceeds | €644460 |
Here is the breakdown (using our typical Low, Mid, and High definitions):
| Detailed Breakdown | |
|---|---|
| Low Total Lots | 215 |
| Total Low Lots Sold | 157 |
| Total Low Lots Bought In | 58 |
| Low Buy In % | 26.98% |
| Aggregate High Estimate of Low Lots | €780400 |
| Total Proceeds from Low Lots | €583260 |
| Mid Total Lots | 4 |
| Total Mid Lots Sold | 3 |
| Total Mid Lots Bought In | 1 |
| Mid Buy In % | 25.00% |
| Aggregate High Estimate of Mid Lots | €90000 |
| Total Proceeds from Mid Lots | €61200 |
| 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 18, Anton Giulio Bragaglia, Lo Schiaffo (The Slap), 1912, estimated at €30000-40000; it sold at €36000, but was not the top outcome of the sale. That honor went to lot 122, Ren Hang, Untitled, 2010s, estimated at €7000-9000, sold at €60000 (image above, via OstLicht).
Only 40.00% 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 58, Lola Álvarez Bravo, Hommage a Salvador Toscano, Mexico, 1949/1960s, estimated at €2800-3200, sold at €6600
Lot 87, Mary Ellen Mark, Marlon Brando on the set of ‘Apocalypse Now’, 1976, estimated at €800-1000, sold at €3120
Lot 121, Ren Hang, Untitled, 2010s, estimated at €7000-9000, sold at €20400
Lot 122, Ren Hang, Untitled, 2010s, estimated at €7000-9000, sold at €60000
Complete lot by lot results can be found here.
