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.
