Auction Results: Photography, December 2, 2022 @Lempertz

A Buy-In rate above 50% muted the results from the Photography sale at Lempertz in Cologne last week. The top lot Albert Renger-Patzsch image failed to sell, and a handful of positive surprises didn’t generate enough momentum to improve the numbers much. When the dust settled, the Total Sale Proceeds of roughly €250K came in well below the aggregate pre-sale high estimate.

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

Summary Statistics
Total Lots 169
Aggregate Pre Sale Low Estimate €388300
Aggregate Pre Sale High Estimate €504000
Total Lots Sold 84
Total Lots Bought In 85
Buy In % 50.30%
Total Sale Proceeds €252567

Here is the breakdown (using our typical Low, Mid, and High definitions). Given recent currency fluctuations, we have once again re-adapted our local currency thresholds to match roughly $10000 and $50000 break points between categories.

Detailed Breakdown
Low Total Lots 163
Total Low Lots Sold 81
Total Low Lots Bought In 82
Low Buy In % 50.31%
Aggregate High Estimate of Low Lots €346000
Total Proceeds from Low Lots €207837
Mid Total Lots 5
Total Mid Lots Sold 3
Total Mid Lots Bought In 2
Mid Buy In % 40.00%
Aggregate High Estimate of Mid Lots €88000
Total Proceeds from Mid Lots €44730
Total High Lots 1
Total High Lots Sold 0
Total High Lots Bought In 1
High Buy In % 100.00%
Aggregate High Estimate of High Lots €70000
Total Proceeds from High Lots €0

The top lot by High estimate was lot 528, Albert Renger-Patzsch, Das Bäumchen, 1929, estimated at €50000-70000; it did not sell. The top outcome of the sale was lot 513, Karl Blossfeldt, Acer pensylvanicum (Striped maple), 1915-1925, estimated at €25000-30000, sold at €23940 (image above via Lempertz).

78.57% of the lots that sold had proceeds in or above the estimate range, and there were a total of 7 positive surprises in the sale (defined as having proceeds of at least double the high estimate) (images above, via Lempertz):

Lot 519, Hugo Erfurth, Renée Sintenis, 1924, estimated at €3000-4000, sold at €15120

Lot 536, Umbo, Tea for two (from the series: Himmelskamera), 1936/1937, estimated at €2000-2500, sold at €8190

Lot 602, Barbara Klemm, An der Mauer, Berlin-Kreuzberg, 1977/later, estimated at €1200-1500, sold at €5040

Lot 603, Barbara Klemm, Alexanderplatz, Ost-Berlin/DDR, 1970/later, estimated at €1200-1500, sold at €4284

Lot 621, Barbara Klemm, Leonid Breschnew, Willy Brandt, Staatsbesuch, Bonn, 1973/later, estimated at €1500-2000, sold at €4284

Lot 637, Jan Saudek, Life, 1966/later, estimated at €1200-1500, sold at €3024

Lot 643, Anton Corbijn, Naomi Campbell (lips), London, 1993, estimated at €5000-6000, sold at €12600

The complete lot by lot results can be found here.

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Read more about: Anton Corbijn, Barbara Klemm, Hugo Erfurth, Jan Saudek, Karl Blossfeldt, Umbo (Otto Umbehr), Kunsthaus Lempertz

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