The results from the paired photography sales at Lempertz in Cologne earlier this week didn’t ruffle too many feathers. An Otto Steinert luminogram was the top outcome of the sales, and a large number of lower priced positive surprises helped keep the momentum up. But the overall Buy-In rate of roughly 45% ultimately dampened the results, leading to Total Sale Proceeds of roughly €375K, below the aggregate pre-sale high estimate.
The summary statistics are below (all results include the buyer’s premium):
| Summary Statistics | |
|---|---|
| Total Lots | 267 |
| Aggregate Pre Sale Low Estimate | NA |
| Aggregate Pre Sale High Estimate | €626600 |
| Total Lots Sold | 145 |
| Total Lots Bought In | 122 |
| Buy In % | 45.69% |
| Total Sale Proceeds | €376364 |
Here is the breakdown (using our typical Low, Mid, and High definitions):
| Detailed Breakdown | |
|---|---|
| Low Total Lots | 252 |
| Total Low Lots Sold | 140 |
| Total Low Lots Bought In | 112 |
| Low Buy In % | 44.44% |
| Aggregate High Estimate of Low Lots | €462600 |
| Total Proceeds from Low Lots | €325614 |
| Mid Total Lots | 15 |
| Total Mid Lots Sold | 5 |
| Total Mid Lots Bought In | 10 |
| Mid Buy In % | 66.67% |
| Aggregate High Estimate of Mid Lots | €164000 |
| Total Proceeds from Mid Lots | €50750 |
| 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 1024, NASA, Buzz Aldrin beside the Stars and Stripes, 1969, estimated at €15000-20000; it did not sell. The top outcome of the sale was lot 939, Otto Steinert, Luminogramm (Die Lampen der Place de la concorde, Paris), 1952, estimated at €12000-15000, sold at €16250 (image above via Lempertz).
91.03% of the lots that sold had proceeds in or above the estimate range, and there were a total of 22 positive surprises in the sales (defined as having proceeds of at least double the high estimate). The 7 outcomes at €4000 and above are listed below (images above, via Lempertz):
Lot 890, Guglielmo (Wilhelm) Plüschow, Untitled, c1900, estimated at €1200, sold at €4000
Lot 891, Vincenzo Galdi, Untitled, c1900, estimated at €1200, sold at €4500
Lot 968, F.C. Gundlach, Jump Suit aus Nerz, Mirella Petteni, Oslo, 1963/1980s, estimated at €1500-2000, sold at €4000
Lot 975, Elliott Erwitt, Provence, France, 1955/2014, estimated at €3000, sold at €9375
Lot 1000, Peter Leibing, Leap to freedom, 1961, estimated at €1200-1500, sold at €4000
Lot 1033, Anton Corbijn, Nick Cave, Santa Monica, 1991, estimated at €5000-6000, sold at €12500
Lot 1046, Luigi Ghirri, Verso Lagosanto (from the series: Il profilo delle nuvole), 1989, estimated at €3000-4000, sold at €14375
The complete lot by lot results can be found here.
