A little too much softness in the results of lots estimated above €10K dampened the numbers from the Photography and Contemporary Art sales at Lempertz in Cologne last week. While the top photo lot Gerhard Richter overpainted image did sell, several others in the middle price tier did not. With an overall Buy-In rate for photography near 38%, the Total Sale Proceeds for photography came in at roughly €520K, just below the aggregate pre-sale low estimate.
The summary statistics are below (all results include the buyer’s premium):
| Summary Statistics | |
|---|---|
| Total Lots | 185 |
| Aggregate Pre Sale Low Estimate | €604800 |
| Aggregate Pre Sale High Estimate | €794200 |
| Total Lots Sold | 115 |
| Total Lots Bought In | 70 |
| Buy In % | 37.84% |
| Total Sale Proceeds | €522333 |
Here is the breakdown (using our typical Low, Mid, and High definitions).
| Detailed Breakdown | |
|---|---|
| Low Total Lots | 169 |
| Total Low Lots Sold | 106 |
| Total Low Lots Bought In | 63 |
| Low Buy In % | 37.28% |
| Aggregate High Estimate of Low Lots | €477200 |
| Total Proceeds from Low Lots | €330183 |
| Mid Total Lots | 16 |
| Total Mid Lots Sold | 9 |
| Total Mid Lots Bought In | 7 |
| Mid Buy In % | 43.75% |
| Aggregate High Estimate of Mid Lots | €305000 |
| Total Proceeds from Mid Lots | €192150 |
| 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 445, Gerhard Richter, 9. März 03, 2003, estimated at €40000-50000; it was also the top outcome of the sales at €52920 (image above via Lempertz).
80.87% of the lots that sold had proceeds in or above the estimate range, and there were 11 positive surprises in the sales (defined as having proceeds of at least double the high estimate) (images above, via Lempertz):
Lot 451, Sigmar Polke, Ohne Titel, 1975, estimated at €10000-15000, sold at €35280
Lot 629, Alfred Ehrhardt, Wattenmeer Nordsee, 1935, estimated at €800-1000, sold at €5292
Lot 632, Paul Wolff, Gabeln mit ihren Schatten, 1927, estimated at €800-1000, sold at €2772
Lot 637, Leni Riefenstahl, Ohne Titel (Wasserball), 1936, estimated at €900-1200, sold at €2520
Lot 638, Leni Riefenstahl, Im Stadion, 1936, estimated at €1200-1500, sold at €4788
Lot 639, Leni Riefenstahl, Ohne Titel (Marjorie Gestring), 1936, estimated at €1500-2000, sold at €5040
Lot 660, Herbert List, Ohne Titel (Dominikanische Republik), 1957, estimated at €1000-1500, sold at €3276
Lot 706, Barbara Klemm, Leonid Breschnew, Willy Brandt, Bonn, 1973/later, estimated at €1200-1500, sold at €5796
Lot 713, Robert Mapplethorpe, Parrot Tulip in Black Vase, 1985, estimated at €8000-10000, sold at €30240
Lot 748, Albert Watson, Monkey with Gun, New York, 1992, estimated at €4000-5000, sold at €12600
Lot 758, Tata Ronkholz, Lessingstrasse, Krefeld, 1978, estimated at €2000-2500, sold at €10080
The complete lot by lot results can be found here (Photography), and here (Contemporary Art).
