The recent run of contemporary art sales at Grisebach in Berlin last week didn’t include much photography, and aside from the top photo lot Gilbert & George work which didn’t find a buyer, the rest of the photo offerings generally performed to expectations. With an overall Buy-In rate for photography of just over 26% and a couple of positive surprises, the Total Sale Proceeds for photography (of roughly €295K) fell in the middle of the aggregate pre-sale estimate range.
The summary statistics are below (all results include the buyer’s premium):
| Summary Statistics | |
|---|---|
| Total Lots | 15 |
| Aggregate Pre Sale Low Estimate | €267000 |
| Aggregate Pre Sale High Estimate | €371000 |
| Total Lots Sold | 11 |
| Total Lots Bought In | 4 |
| Buy In % | 26.67% |
| Total Sale Proceeds | €295910 |
Here is the breakdown (using our typical Low, Mid, and High definitions).
| Detailed Breakdown | |
|---|---|
| Low Total Lots | 2 |
| Total Low Lots Sold | 2 |
| Total Low Lots Bought In | 0 |
| Low Buy In % | 0.00% |
| Aggregate High Estimate of Low Lots | €12000 |
| Total Proceeds from Low Lots | €25400 |
| Mid Total Lots | 11 |
| Total Mid Lots Sold | 8 |
| Total Mid Lots Bought In | 3 |
| Mid Buy In % | 27.27% |
| Aggregate High Estimate of Mid Lots | €209000 |
| Total Proceeds from Mid Lots | €196850 |
| Total High Lots | 2 |
| Total High Lots Sold | 1 |
| Total High Lots Bought In | 1 |
| High Buy In % | 50.00% |
| Aggregate High Estimate of High Lots | €150000 |
| Total Proceeds from High Lots | €73660 |
The top lot by High estimate was lot 24, Gilbert & George, White Army, 2008, estimated at €70000-90000; it did not sell. The top outcome of the sales was lot 719, Wolfgang Tillmans, Silver 50, 2006, estimated at €40000-60000, sold at €73660 (image above, via Grisebach).
100.00% of the lots that sold had proceeds in or above the estimate range and there were a total of 2 positive surprises in the sales (defined as having proceeds of at least double the high estimate) (images above, via Grisebach):
Lot 708, Michael Sailstorfer, Raketenbaum 1, 2008, estimated at €8000-12000, sold at €35560
Lot 811, Astrid Klein, Eine Frau muss geliebt werden – und sie muß wissen, daß sie geliebt wird, 1978, estimated at €3000-4000, sold at €16510
Complete lot by lot results can be found here (Selected Works) and here (Contemporary Art).
