Auction Results: Photography and Contemporary Art, November 30 and December 1, 2018 @Lempertz

The recent Photography and Contemporary Art sales at Kunsthaus Lempertz in Cologne performed generally to expectations. While the top lot Thomas Ruff print failed to fell, there were plenty of positive surprises (mostly at lower price points) to pick up some of the slack. With an overall Buy-In rate below 28%, the Total Sale Proceeds 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 194
Pre Sale Low Total Estimate NA
Pre Sale High Total Estimate €797300
Total Lots Sold 140
Total Lots Bought In 54
Buy In % 27.84%
Total Sale Proceeds €627440

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

Detailed Breakdown
Low Total Lots 168
Low Sold 122
Low Bought In 46
Low Buy In % 27.38%
Total Low Estimate €328300
Total Low Sold €308512
Mid Total Lots 25
Mid Sold 18
Mid Bought In 7
Mid Buy In % 28.00%
Total Mid Estimate €399000
Total Mid Sold €318928
Total High Lots 1
High Sold 0
High Bought In 1
High Buy In % 100.00%
Total High Estimate €70000
Total High Sold €0

The top lot by High estimate was lot 542, Thomas Ruff, Substrat 27 II, 2005, estimated at €50000-70000; it did not sell. The top outcome of the sales was lot 16, Heinrich Kühn, Untitled (Küstenlandschaft in Italien), 1897-1899, estimated at €15000-20000, sold at €42160 (image above via Lempertz).

80.71% of the lots that sold had proceeds in or above the estimate range, and there were a total of 26 positive surprises in the sales (defined as having proceeds of at least double the high estimate). The 13 lots with outcomes above €3000 were as follows (images above, via Lempertz):

Lot 1, Wilhelm Schneider, Ein lesender Mann in seinem Salon, c1860, estimated at €1500, sold at €3720

Lot 10, Wilhelm von Gloeden, Cain, c1900, estimated at €1500-2000, sold at €5704

Lot 16, Heinrich Kühn, Untitled (Küstenlandschaft in Italien), 1897-1899, estimated at €15000-20000, sold at €42160

Lot 19, August Sander, Karl und Ida Ermert, Herdorf, 1907, estimated at €4000-6000, sold at €14880

Lot 28, Hugo Erfurth, Karl-Hugo Schmölz, 1938, estimated at €1500, sold at €4960

Lot 32, Albert Renger-Patzsch, Trauben, 1928, estimated at €900, sold at €4712

Lot 51, Walter Hege, Koren des Erechtheion, Akropolis, 1928/1929, estimated at €800, sold at €5580

Lot 62, Hedda Hammer Morrison, China, 1933-1946, estimated at €1200-1500, sold at €5704

Lot 76, Karl Hugo Schmölz, Funkhaus, Polstergestühl im Großen Sendesaal, 1952, estimated at €600, sold at €3224

Lot 108, Joint Army Navy Task Force One Photo, Untitled (Underwater Atomic Bomb, Bikini Atoll), 1946, estimated at €1200-1500, sold at €3472

Lot 129, Arno Fischer, Marlene Dietrich, 1964, estimated at €800-1000, sold at €8680

Lot 146, Michael Schmidt, Untitled (from the series: Berlin nach 1945), 1980, estimated at €1000-1500, sold at €3968

Lot 148, Michael Schmidt, Untitled (from the series: Frauen), 1997-1999, estimated at €1200-1500, sold at €3472

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

Albert Renger-Patzsch, Arno Fischer, August Sander, Hedda Hammer Morrison, Heinrich Kühn, Hugo Erfurth, Joint Army Task Force One, Karl Hugo Schmölz, Michael Schmidt, Walter Hege, Wilhelm von Gloeden, Kunsthaus Lempertz

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