While nearly a dozen positive surprises buoyed the results of the recent Photography sale at Grisebach in Berlin last week, softness in the middle and high price tiers ultimately kept the sale down. Only two of the top nine lots found buyers, leading to Total Sale Proceeds (of roughly €335K) that came in below the low end of the aggregate pre-sale estimate range.
The summary statistics are below (all results include the buyer’s premium):
| Summary Statistics | |
|---|---|
| Total Lots | 104 |
| Aggregate Pre Sale Low Estimate | €401800 |
| Aggregate Pre Sale High Estimate | €568000 |
| Total Lots Sold | 66 |
| Total Lots Bought In | 38 |
| Buy In % | 36.54% |
| Total Sale Proceeds | €335750 |
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 | 93 |
| Total Low Lots Sold | 62 |
| Total Low Lots Bought In | 31 |
| Low Buy In % | 33.33% |
| Aggregate High Estimate of Low Lots | €309000 |
| Total Proceeds from Low Lots | €249500 |
| Mid Total Lots | 10 |
| Total Mid Lots Sold | 4 |
| Total Mid Lots Bought In | 6 |
| Mid Buy In % | 60.00% |
| Aggregate High Estimate of Mid Lots | €189000 |
| Total Proceeds from Mid Lots | €86250 |
| 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 2105, David Yarrow, Convolute “The Gary Player African Wildlife Collection” (6 prints), 2012/2016, estimated at €50000-70000; it did not sell. The top outcome of the sale was lot 2094, Slim Aarons, Poolside Pairs, 1970/2022, estimated at €8000-10000, sold at €25000 (image above, via Grisebach).
96.97% of the lots that sold had proceeds in or above the estimate range and there were a total of 11 positive surprises in the sale (defined as having proceeds of at least double the high estimate) (images above, via Grisebach):
Lot 2022, Helen Levitt, N.Y., 1971/1996, estimated at €700-900, sold at €2500
Lot 2025, Helen Levitt, N.Y., c1942/later, estimated at €2000-3000, sold at €6250
Lot 2030, Louis Stettner, Penn Station, 1958/later, estimated at €1200-1500, sold at €3250
Lot 2041, Koji Onaka, Asahi Toyama, # 10, from the series S.[hort] T.[rip] A[gain], 2013/2018, estimated at €1000-1500, sold at €4000
Lot 2053, David Hockney, My Parents, Bradford, July, 1975/1976, estimated at €1200-1600, sold at €3750
Lot 2073, Ralph Gibson, From the series Déjà-vu, 1972, estimated at €1000-1500, sold at €3125
Lot 2084, David Hockney, Peter Showering, Paris, July, 1975/1976, estimated at €1200-1600, sold at €8125
Lot 2085, Daniel Josefsohn, Lieber Helmut, lieber George, ich wollte auch mal mit der Eisenbahn spielen, 2008/2016, estimated at €1500-2500, sold at €5000
Lot 2094, Slim Aarons, Poolside Pairs, 1970/2022, estimated at €8000-10000, sold at €25000
Lot 2096, Joel Meyerowitz, Porch Series Provincetown, 1977, estimated at €800-1000, sold at €5000
Lot 2103, Dieter Appelt, Die Befreiung der Finger, from the series Erinnerungsspur (6 prints), 1977-1979, estimated at €7000-9000, sold at €23750
Complete lot by lot results can be found here.
