Auction Results: Photo Auction Spring 2024, June 5, 2024 @OstLicht

With just 27% of the lots that sold selling at or above their estimate ranges at the Spring Photo Auction at OstLicht in Vienna earlier this week, even with an overall Buy-In rate under 30%, there were just too many passed lots and low priced purchases to push the numbers up. The top lot Günter Brus portfolio did sell, but below its estimate range. When the tally was complete, the Total Sale Proceeds came in at roughly €430K, well below the low end of 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 €608600
Aggregate Pre Sale High Estimate €739300
Total Lots Sold 155
Total Lots Bought In 64
Buy In % 29.22%
Total Sale Proceeds €434940

Here is the breakdown (using our typical Low, Mid, and High definitions):

Detailed Breakdown
Low Total Lots 213
Total Low Lots Sold 149
Total Low Lots Bought In 64
Low Buy In % 30.05%
Aggregate High Estimate of Low Lots €658400
Total Proceeds from Low Lots €360540
Mid Total Lots 6
Total Mid Lots Sold 6
Total Mid Lots Bought In 0
Mid Buy In % 0.00%
Aggregate High Estimate of Mid Lots €80000
Total Proceeds from Mid Lots €74400
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 92, Günter Brus, Portfolio ‘Transfusion’, 1965/1999, estimated at €16000-18000;it found a buyer at €10800, but it was not the top outcome of the same. That honor went to lot 100, Luigi Ghirri, Untitled, from the series ‘Still life’, 1980, estimated at €8000-10000, sold at €18000 (image above, via OstLicht).

Just 27.10% of the lots that sold had proceeds in or above the estimate range and there was just 1 positive surprise in the sale (defined as having proceeds of at least double the high estimate) (images above, via OstLicht):

Lot 44, Paul Strand, ‘Tailor’s Apprentice, Luzzara’, Italy, 1953/1994, estimated at €1000-1200, sold at €2640

Complete lot by lot results can be found here.

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Read more about: Luigi Ghirri, Paul Strand, OstLicht Photo Auction

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