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):
| Summary Statistics | |
|---|---|
| Total Lots | 99 |
| Aggregate Pre Sale Low Estimate | NA |
| Aggregate Pre Sale High 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):
| Detailed Breakdown | |
|---|---|
| Low Total Lots | 82 |
| Total Low Lots Sold | 44 |
| Total Low Lots Bought In | 38 |
| Low Buy In % | 46.34% |
| Aggregate High Estimate of Low Lots | €232500 |
| Total Proceeds from Low Lots | €178570 |
| Mid Total Lots | 17 |
| Total Mid Lots Sold | 8 |
| Total Mid Lots Bought In | 9 |
| Mid Buy In % | 52.94% |
| Aggregate High Estimate of Mid Lots | €204000 |
| Total Proceeds from Mid Lots | €118950 |
| 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 | 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.
