Auction Results: Photography Online Only, January 28, 2024 @Grisebach

The 2024 auction season for photography got off to a muted start at an early season online only sale at Grisebach in Berlin this past weekend. The results were underwhelming, with the top lot Sebastião Salgado print failing to sell and an overall Buy-In rate that came in near 50%. When the last timer ended, the Total Sale Proceeds (of roughly €125K) fell 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 109
Aggregate Pre Sale Low Estimate €244400
Aggregate Pre Sale High Estimate €336700
Total Lots Sold 56
Total Lots Bought In 53
Buy In % 48.62%
Total Sale Proceeds €126362

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

Detailed Breakdown
Low Total Lots 106
Total Low Lots Sold 55
Total Low Lots Bought In 51
Low Buy In % 48.11%
Aggregate High Estimate of Low Lots €264700
Total Proceeds from Low Lots €110487
Mid Total Lots 3
Total Mid Lots Sold 1
Total Mid Lots Bought In 2
Mid Buy In % 66.67%
Aggregate High Estimate of Mid Lots €72000
Total Proceeds from Mid Lots €15875
Total High Lots 0
Total High Lots Sold NA
Total High Lots Bought In NA
High Buy In % NA
Aggregate High Estimate of High Lots €0
Total Proceeds from High Lots €0

The top lot by High estimate was lot 1785, Sebastião Salgado, ”Antarctica”, Iceberg between the Paulet Islands and the Shetland Islands, 2005/2023, estimated at €30000-40000; it did not sell. The top outcome of the sale was lot 1779, Bettina Rheims, ”7 Novembre – Paris”, from the series ”Chambre Close”, 1991, estimated at €15000-20000, sold at €15875 (image above, via Grisebach).

89.29% of the lots that sold had proceeds in or above the estimate range and there was just 1 positive surprise in the sale (defined as having proceeds of at least double the high estimate) (image above, via Grisebach):

Lot 1711, Sander Coers, POST No. 32, 2023, estimated at €600-800, sold at €1651

Complete lot by lot results can be found here.

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Read more about: Bettina Rheims, Sander Coers, Grisebach

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