With just 40% of the lots that sold selling at or above their estimate ranges at the Autumn Photo Auction at OstLicht in Vienna last week, even with an overall Buy-In rate near 25%, there were just too many passed lots and low priced purchases to generate much excitement. The top lot Robert Frank print failed to sell, leaving the top lot honors to a print by Ren Hang. In the end, the Total Sale Proceeds came in at roughly €640K, below the low end of the aggregate pre-sale estimate range.
The summary statistics are below (all results include the 20% non-EU buyer’s premium):
| Summary Statistics | |
|---|---|
| Total Lots | 211 |
| Aggregate Pre Sale Low Estimate | €734300 |
| Aggregate Pre Sale High Estimate | €916500 |
| Total Lots Sold | 156 |
| Total Lots Bought In | 55 |
| Buy In % | 26.07% |
| Total Sale Proceeds | €639840 |
Here is the breakdown (using our typical Low, Mid, and High definitions):
| Detailed Breakdown | |
|---|---|
| Low Total Lots | 200 |
| Total Low Lots Sold | 146 |
| Total Low Lots Bought In | 54 |
| Low Buy In % | 27.00% |
| Aggregate High Estimate of Low Lots | €686500 |
| Total Proceeds from Low Lots | €449040 |
| Mid Total Lots | 11 |
| Total Mid Lots Sold | 10 |
| Total Mid Lots Bought In | 1 |
| Mid Buy In % | 9.09% |
| Aggregate High Estimate of Mid Lots | €230000 |
| Total Proceeds from Mid Lots | €190800 |
| 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 | €0 |
The top lot by High estimate was lot 54, Robert Frank, ‘Candy Store, 86th Street’, New York City, 1955/1979, estimated at €26000-36000; it did not sell. The top outcome of the sale was lot 109, Ren Hang, Untitled, 2010s, estimated at €14000-16000, sold at €45600 (image above, via OstLicht).
Just 41.03% of the lots that sold had proceeds in or above the estimate range and there were a total of 4 positive surprises in the sale (defined as having proceeds of at least double the high estimate) (images above, via OstLicht):
Lot 57, Philippe Halsman, Dalí portfolio, 1948-1964/1981, estimated at €4000-5000, sold at €11400
Lot 68, Bert Stern, Marilyn Monroe at Hotel Bel-Air, Los Angeles 1962, from the series ‘The Last Sitting’, 1962/1992, estimated at €5000-6000, sold at €13200
Lot 87, Luigi Ghirri, Amsterdam, from the series ‘Still life‘, 1981, estimated at €6000-8000, sold at €22800
Lot 109, Ren Hang, Untitled, 2010s, estimated at €14000-16000, sold at €45600
Complete lot by lot results can be found here.
The Bert Stern photograph is eye-catching. It seems to be described online as a ‘crucifix’ Marilyn. I’m not sure if the negative was initally marked so as a fail but the glowing orange marks, done so un-selfconsciously on the stagey black and white portrait, brings it unexpectedly to life.