Auction Results: Photographie, November 27, 2019 @Grisebach

A group of 70 portraits by August Sander, printed by Gunther Sander in the early 1960s and sold as a single lot, soared to a price of nearly €950K, covering up what was otherwise a relatively soft Photographie sale at Grisebach in Berlin last week. There were plenty of bargains to be had, with just 51% of the lots that sold selling in or above their estimate ranges. The overall Buy-In rate came in at a respectable 21% and the Total Sale Proceeds (of roughly €1.4M) landed well above the high end of the aggregate pre-sale estimate range.

The summary statistics are below (all results include the buyer’s premium):

Summary Statistics
Total Lots 207
Aggregate Pre Sale Low Estimate €773900
Aggregate Pre Sale High Estimate €1171500
Total Lots Sold 162
Total Lots Bought In 45
Buy In % 21.74%
Total Sale Proceeds €1420870

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

Detailed Breakdown
Low Total Lots 191
Total Low Lots Sold 147
Total Low Lots Bought In 44
Low Buy In % 23.04%
Aggregate High Estimate of Low Lots €480500
Total Proceeds from Low Lots €331245
Mid Total Lots 15
Total Mid Lots Sold 14
Total Mid Lots Bought In 1
Mid Buy In % 6.67%
Aggregate High Estimate of Mid Lots €191000
Total Proceeds from Mid Lots €140625
Total High Lots 1
Total High Lots Sold 1
Total High Lots Bought In 0
High Buy In % 0.00%
Aggregate High Estimate of High Lots €500000
Total Proceeds from High Lots €949000

The top lot by High estimate was lot 2149, August Sander, 70 Portraits from “Menschen des 20. Jahrhunderts”, 1912-1932/1961-1963, estimated at €300000-500000; it was also the top outcome of the sale at €949000 (image above, via Grisebach).

Only 51.23% of the lots that sold had proceeds in or above the estimate range and there were a total of 8 positive surprises in the sale (defined as having proceeds of at least double the high estimate) (images above, via Grisebach):

Lot 2076, Hill & Adamson, John Blackie, Publisher, Edinburgh/Jeanie Wilson, Newhaven, 1843, 1845, estimated at €2000-3000, sold at €12500

Lot 2120, Arnold Newman, Alfred Krupp, Essen, 1963/later, estimated at €1000-1500, sold at €4750

Lot 2124, Paul Outerbridge, Christmas Tree Ornament, New York, 1937, estimated at €3000-4000, sold at €10000

Lot 2157, Otto Steinert, Grand Palais 1/Grand Palais 2, 1955, 1956, estimated at €4000-6000, sold at €13750

Lot 2194, Edward Weston & Margrethe Mather, The Marion Morgan Dancers, 1920, estimated at €6000-8000, sold at €37500

Lot 2195, Joel-Peter Witkin, Poet: From a Collection of Relics and Ornaments, Berlin, 1986, estimated at €1500-2000, sold at €4375

Lot 2196, Joel-Peter Witkin, Canova’s Venus, NYC, 1982, estimated at €1500-2000, sold at €9375

Lot 2199, Wolff & Tritschler, Railway, c1926, estimated at €1000-1500, sold at €3125

Complete lot by lot results can be found here.

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Read more about: Arnold Newman, August Sander, David Octavius Hill and Robert Adamson, Edward Weston, Joel-Peter Witkin, Margrethe Mather, Otto Steinert, Paul Outerbridge, Paul Wolff, Grisebach

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