Auction Results: Photo Auction Spring 2023, June 2, 2023 @OstLicht

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.

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Read more about: Lola Álvarez Bravo, Mary Ellen Mark, Ren Hang, OstLicht Photo Auction

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