Auction Results: Photography and Contemporary Art Day, December 1 and 2, 2023 @Lempertz

A little too much softness in the results of lots estimated above €10K dampened the numbers from the Photography and Contemporary Art sales at Lempertz in Cologne last week. While the top photo lot Gerhard Richter overpainted image did sell, several others in the middle price tier did not. With an overall Buy-In rate for photography near 38%, the Total Sale Proceeds for photography came in at roughly €520K, just below the aggregate pre-sale low estimate.

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

Summary Statistics
Total Lots 185
Aggregate Pre Sale Low Estimate €604800
Aggregate Pre Sale High Estimate €794200
Total Lots Sold 115
Total Lots Bought In 70
Buy In % 37.84%
Total Sale Proceeds €522333

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

Detailed Breakdown
Low Total Lots 169
Total Low Lots Sold 106
Total Low Lots Bought In 63
Low Buy In % 37.28%
Aggregate High Estimate of Low Lots €477200
Total Proceeds from Low Lots €330183
Mid Total Lots 16
Total Mid Lots Sold 9
Total Mid Lots Bought In 7
Mid Buy In % 43.75%
Aggregate High Estimate of Mid Lots €305000
Total Proceeds from Mid Lots €192150
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 445, Gerhard Richter, 9. März 03, 2003, estimated at €40000-50000; it was also the top outcome of the sales at €52920 (image above via Lempertz).

80.87% of the lots that sold had proceeds in or above the estimate range, and there were 11 positive surprises in the sales (defined as having proceeds of at least double the high estimate) (images above, via Lempertz):

Lot 451, Sigmar Polke, Ohne Titel, 1975, estimated at €10000-15000, sold at €35280

Lot 629, Alfred Ehrhardt, Wattenmeer Nordsee, 1935, estimated at €800-1000, sold at €5292

Lot 632, Paul Wolff, Gabeln mit ihren Schatten, 1927, estimated at €800-1000, sold at €2772

Lot 637, Leni Riefenstahl, Ohne Titel (Wasserball), 1936, estimated at €900-1200, sold at €2520

Lot 638, Leni Riefenstahl, Im Stadion, 1936, estimated at €1200-1500, sold at €4788

Lot 639, Leni Riefenstahl, Ohne Titel (Marjorie Gestring), 1936, estimated at €1500-2000, sold at €5040

Lot 660, Herbert List, Ohne Titel (Dominikanische Republik), 1957, estimated at €1000-1500, sold at €3276

Lot 706, Barbara Klemm, Leonid Breschnew, Willy Brandt, Bonn, 1973/later, estimated at €1200-1500, sold at €5796

Lot 713, Robert Mapplethorpe, Parrot Tulip in Black Vase, 1985, estimated at €8000-10000, sold at €30240

Lot 748, Albert Watson, Monkey with Gun, New York, 1992, estimated at €4000-5000, sold at €12600

Lot 758, Tata Ronkholz, Lessingstrasse, Krefeld, 1978, estimated at €2000-2500, sold at €10080

The complete lot by lot results can be found here (Photography), and here (Contemporary Art).

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Read more about: Albert Watson, Alfred Ehrhardt, Barbara Klemm, Gerhard Richter, Herbert List, Leni Riefenstahl, Paul Wolff, Robert Mapplethorpe, Sigmar Polke, Tata Ronkholz, Kunsthaus Lempertz

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