Auction Results: Selected Works and Contemporary Art, November 30 and December 1, 2023 @Grisebach

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).

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Read more about: Astrid Klein, Michael Sailstorfer, Wolfgang Tillmans, Grisebach

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