While nearly a dozen positive surprises buoyed the results of the recent Photography sale at Grisebach in Berlin last week, softness in the middle and high price tiers ultimately kept the sale down. Only two of the top nine lots found buyers, leading to Total Sale Proceeds (of roughly €335K) that came in below the low end of the aggregate pre-sale estimate range.... Read more at Collector Daily.

The results of the recent sale of photographs from the Teutloff Collection at Kunsthaus Lempertz in Cologne were decidedly flat. The overall Buy-In rate was nearly 50% and the Total Sale Proceeds came in well below the estimate target. Lempertz does not provide an estimate range in most cases, just a single estimate number, so this figure is used as the High estimate in the calculations.... Read more at Collector Daily.

The results of the recent sale of photographs from the Teutloff Collection at Kunsthaus Lempertz in Cologne were decidedly flat. The overall Buy-In rate was nearly 50% and the Total Sale Proceeds came in well below the estimate target. Lempertz does not provide an estimate range in most cases, just a single estimate number, so this figure is used as the High estimate in the calculations.

The summary statistics are below (all results include the buyer’s premium):

Total Lots: 99
Pre Sale High Total Estimate: €436500
Total Lots Sold: 52
Total Lots Bought In: 47
Buy In %: 47.47%
Total Sale Proceeds: €297520

Here is the breakdown (using the Low, Mid, and High definitions from the preview post, here):

Low Total Lots: 82
Low Sold: 44
Low Bought In: 38
Buy In %: 46.34%
Total Low Estimate: €232500
Total Low Sold: €178570

Mid Total Lots: 17
Mid Sold: 8
Mid Bought In: 9
Buy In %: 52.94%
Total Mid Estimate: €204000
Total Mid Sold: €118950

High Total Lots: 0
High Sold: NA
High Bought In: NA
Buy In %: NA
Total High Estimate: €0
Total High Sold: NA

The top lot by High estimate was lot 313, Hendrik Kerstens, Bag, 2007, estimated at €15000-20000; it sold for €19520. The top outcome of the sale was lot 343, Jürgen Klauke, Toter Photograph, estimated at €14000-18000, sold at €29280.

100.00% of the lots that sold had proceeds in or above the estimate. There were a total of 9 surprises in the sale (defined as having proceeds of at least double the high estimate):

Lot 341, Dieter Appelt, Image de la Vie et de la Mort, 1979, estimated at €5000, sold at €10980 (image at right, middle, via Lempertz)
Lot 346, Stefan Moses, Jospeh Beuys, Munchen, 1968/later, estimated at €800, sold at €2070
Lot 348, Cindy Sherman, Ancestor, 1985, estimated at €1500-2000, sold at €4880
Lot 349, Joel-Peter Witkin, La Giovanissima, 2007, estimated at €2000, sold at €13420 (image at right, top, via Lempertz)
Lot 357, Mario Cravo Neto, O Deus da Cabeca, 1988, estimated at €1500, sold at €3900
Lot 358, Mario Cravo Neto, Voodoo Figure, 1988, estimate at €1500, sold at €3900
Lot 359, Adam Nadel, Ohne Titel, 2004, estimated at €2500, sold at €5120
Lot 361, Steve McCurry, India, Kerala, Hundus During Trichur Pooram, 1996, estimated at €1800, sold at €3900
Lot 392, Rudolf Schwarzkogler, Aktion mit Seinem Eigenen Korper, 1966, estimated at €6000, sold at €12200 (image at right, bottom, via Lempertz)

Complete lot by lot results can be found here.

Kunsthaus Lempertz
Neumarkt 3
D-50667 Köln