Auction Results: Photography and Contemporary Art, May 29 and 30, 2015 @Lempertz

An overly large Buy-In rate was the dragging force on the photography sales at Kunsthaus Lempertz in Cologne last week. Nearly 50% of the lots failed to find buyers, and without enough positive surprises to pick up the slack, the Total Sale Proceeds fell well under the pre-sale estimate.

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

Summary Statistics
Total Lots 215
Pre Sale Low Total Estimate NA
Pre Sale High Total Estimate €645400
Total Lots Sold 109
Total Lots Bought In 106
Buy In % 49.30%
Total Sale Proceeds €422716

Here is the breakdown (using the Low, Mid, and High definitions from the preview post):

Detailed Breakdown
Low Total Lots 200
Low Sold 102
Low Bought In 98
Low Buy In % 49.00%
Total Low Estimate €390400
Total Low Sold €276096
Mid Total Lots 13
Mid Sold 5
Mid Bought In 8
Mid Buy In % 61.54%
Total Mid Estimate €145000
Total Mid Sold €53940
Total High Lots 2
High Sold 2
High Bought In 0
High Buy In % 0.00%
Total High Estimate €110000
Total High Sold €101680

The top lot by High estimate was lot 560, Thomas Demand, Junior Suite, 2012, estimated at €50000-70000; it was also the top outcome of the sales at €57040.

76.14% of the lots that sold had proceeds in or above the estimate range and there were a total of 5 surprises in the sale (defined as having proceeds of at least double the high estimate) (images above via Lempertz):

Lot 55, Cecil Beaton, Soapsuds Group at the Living Posters Ball, 1930/later, estimated at €1400-1600, sold at €3596

Lot 128, John Dominis, Steve McQueen in a Black Jaguar at Studio, CA, 1963/later, estimated at €1100, sold at €3224

Lot 135, Christer Strömholm, Paris, 1962/later, estimated at €1000, sold at €10540

Lot 152, Gerard Fieret, Selbsportrait, 1970, estimated at €1200, sold at €2852

Lot 616, Rudolph Schwarzkogler, 3. Aktion, Wien, 1965, estimated at €3000, sold at €17360

Complete lot by lot results can be found here (Photography), here (Contemporary Art I), and here (Contemporary Art II).

Cecil Beaton, Christer Strömholm, Gerard Petrus Fieret, John Dominis, Rudolf Schwarzkogler, Kunsthaus Lempertz

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