Auction Results: Photography and Contemporary Art Day, June 4 and 5, 2024 @Lempertz

An overall Buy-In rate for photography near 50% muted the numbers from the Photography and Contemporary Art sales at Lempertz in Cologne earlier this week. While the top photo lot Albert Renger-Patzsch image did sell, as did an In Sook Kim work that topped it, there weren’t enough positive surprises to make up for the overall softness in the sales. When the dust settled on the two auctions, the Total Sale Proceeds for photography came in at roughly €430K, meaningfully below the aggregate pre-sale low estimate.

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

Summary Statistics
Total Lots 201
Aggregate Pre Sale Low Estimate €538900
Aggregate Pre Sale High Estimate €694200
Total Lots Sold 105
Total Lots Bought In 96
Buy In % 47.76%
Total Sale Proceeds €431298

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

Detailed Breakdown
Low Total Lots 186
Total Low Lots Sold 97
Total Low Lots Bought In 89
Low Buy In % 47.85%
Aggregate High Estimate of Low Lots €409200
Total Proceeds from Low Lots €258048
Mid Total Lots 14
Total Mid Lots Sold 7
Total Mid Lots Bought In 7
Mid Buy In % 50.00%
Aggregate High Estimate of Mid Lots €235000
Total Proceeds from Mid Lots €125370
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 €50000
Total Proceeds from High Lots €47880

The top lot by High estimate was lot 507, Albert Renger-Patzsch, Das Bäumchen, 1929/1933, estimated at €40000-50000; it found a buyer at €47880, but it was not the top outcome of the sales. That honor went to lot 426, Kim In Sook, Saturday Night, 2010, estimated at €25000-30000, sold at €55400 (image above, via Lempertz.)

85.71% of the lots that sold had proceeds in or above the estimate range, and there were 5 positive surprises in the sales (defined as having proceeds of at least double the high estimate) (images above, via Lempertz):

Lot 504, August Sander, Middle-class Children, 1925/1972, estimated at €2000-3000, sold at €7560

Lot 505, Alfred Ehrhardt, Sandformen, Kurische Nehrung, 1934/1936, estimated at €2500-3000, sold at €6930

Lot 514, Lotte Gerson-Collein, Arbeitspause im Vorkurs, Bauhaus Dessau, c1928/later, estimated at €600-800, sold at €3024

Lot 520, T. Lux Feininger, Clemens Röseler auf der Brüstung vor der Bauhauskantineu, 1928/1929, estimated at €2000-2500, sold at €6174

Lot 521, Lucia Moholy, Teekugeln von Josef Knau, Bauhaus Weimar, 1924, estimated at €1800-2000, sold at €6552

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

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Read more about: Alfred Ehrhardt, August Sander, In Sook Kim, Lucia Moholy, T. Lux Feininger, Kunsthaus Lempertz

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