Auction Results: The Art of Photography – A New York Collection, December 1, 2021 @Grisebach

An overall Buy-In rate over 50% meaningfully dampened the results at the recent photography sale at Grisebach in Berlin last week. This was particularly true in the highest price tier, where the Buy-In rate came in at 80%. With so many top lots passing (and only a few positive surprises to balance them out), it will come as no surprise that the Total Sale Proceeds (of roughly €740K) came in well 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 126
Aggregate Pre Sale Low Estimate €1332000
Aggregate Pre Sale High Estimate €1879000
Total Lots Sold 61
Total Lots Bought In 65
Buy In % 51.59%
Total Sale Proceeds €741625

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

Detailed Breakdown
Low Total Lots 81
Total Low Lots Sold 38
Total Low Lots Bought In 43
Low Buy In % 53.09%
Aggregate High Estimate of Low Lots €349000
Total Proceeds from Low Lots €129750
Mid Total Lots 35
Total Mid Lots Sold 21
Total Mid Lots Bought In 14
Mid Buy In % 40.00%
Aggregate High Estimate of Mid Lots €560000
Total Proceeds from Mid Lots €299375
Total High Lots 10
Total High Lots Sold 2
Total High Lots Bought In 8
High Buy In % 80.00%
Aggregate High Estimate of High Lots €970000
Total Proceeds from High Lots €312500

The top lot by High estimate was lot 2122, Helmut Newton, ‘Sie Kommen’ (Dressed) Paris / ‘Sie Kommen’ (Naked) Paris, 1981, estimated at €150000-200000; it was also the top outcome of the sale at €200000 (image above, via Grisebach).

80.33% of the lots that sold had proceeds in or above the estimate range and there were a total of 3 positive surprises in the sale (defined as having proceeds of at least double the high estimate) (images above, via Grisebach):

Lot 2077, Théo Ballmer, Glasses, 1930, estimated at €700-900, sold at €3250

Lot 2079, ringl + pit, Comol [sic!], 1931/1984, estimated at €2000-2500, sold at €8750

Lot 2087, Inge Morath, Pablo Picasso unveiling mural for Unesco, Vallauris, France, 1958/c1970, estimated at €800-1000, sold at €2000

Complete lot by lot results can be found here.

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Read more about: Helmut Newton, Inge Morath, Ringl+Pit, Théo Ballmer, Grisebach

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