Auction Results: Photography and Contemporary Art, May 31 and June 1, 2019 @Lempertz

A hefty Buy-In rate (over 46%) plagued the recent Photography and Contemporary Art sales at Kunsthaus Lempertz in Cologne. While there were a decent number of positive surprises to add to the momentum, the Total Sale Proceeds (of roughly €450K) came in below the aggregate pre-sale high estimate.

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

Summary Statistics
Total Lots 202
Pre Sale Low Total Estimate NA
Pre Sale High Total Estimate €754200
Total Lots Sold 108
Total Lots Bought In 94
Buy In % 46.53%
Total Sale Proceeds €460722

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

Detailed Breakdown
Low Total Lots 196
Low Sold 104
Low Bought In 92
Low Buy In % 46.94%
Total Low Estimate €407200
Total Low Sold €274722
Mid Total Lots 24
Mid Sold 13
Mid Bought In 11
Mid Buy In % 45.83%
Total Mid Estimate €338000
Total Mid Sold €186000
Total High Lots 0
High Sold NA
High Bought In NA
High Buy In % NA
Total High Estimate €0
Total High Sold €0

The top lot by High estimate was tied between four lots: lot 18, Heinrich Kühn, In Bacino di San Marco, Venezia, c1898, lot 23, Heinrich Kühn, Edward Steichen, 1907, lot 625, Marina Abramovic, Woman Massaging Breast II, 2005, and lot 647, Nobuyoshi Araki, Tattooed Fuck, 1998, each estimated at €20000-30000 or €25000-30000. The top outcome of the sale was the Kühn image from Venice at €39680 (image above via Lempertz); the other Kühn image did not sell, while the Abramovic print sold at €24800 and the Araki print sold at €19344.

73.40% of the lots that sold had proceeds in or above the estimate range, and there were a total of 15 positive surprises in the sales (defined as having proceeds of at least double the high estimate). The 8 lots with outcomes above €3000 were as follows (images above, via Lempertz):

Lot 8, Wilhelm von Gloeden, Untitled, c1895, estimated at €1200, sold at €4464

Lot 9, Wilhelm von Gloeden, Untitled, 1895-1900, estimated at €1200, sold at €3100

Lot 12, Guglielmo Plüschow, Untitled, c1900, estimated at €1200, sold at €3224

Lot 51, Fritz Schleifer, Untitled, 1929, estimated at €800, sold at €6944

Lot 54, T. Lux Feininger, Untitled (Two students at the Bauhaus canteen), 1928/1929, estimated at €1500-2000, sold at €7440

Lot 56, Marianne Breslauer, Sommer, 1929, estimated at €1500-2000, sold at €9920

Lot 57, Walter Dexel, Reklame-Uhr in Frankfurt/Main, 1925, estimated at €800-1000, sold at €8680

Lot 175, Heinrich Riebesehl, Schillerslage, Hannover, 1978, estimated at €2000-3000, sold at €8060

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

Fritz Schleifer, Guglielmo (Wilhelm) Plüschow, Heinrich Kühn, Heinrich Riebesehl, Marianne Breslauer, T. Lux Feininger, Walter Dexel, Wilhelm von Gloeden, Kunsthaus Lempertz

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