The photography included in the various modern and contemporary art sales at Van Ham in Cologne last week generally met expectations. Both top photo lots found buyers above their estimate ranges, and although the overall Buy-In rate for photography came in at 40%, the Total Sale Proceeds for photography (of roughly €425K) still found their way to the middle of the aggregate pre-sale estimate range.
The summary statistics are below (all results include the buyer’s premium):
| Summary Statistics | |
|---|---|
| Total Lots | 20 |
| Aggregate Pre Sale Low Estimate | €365000 |
| Aggregate Pre Sale High Estimate | €557000 |
| Total Lots Sold | 12 |
| Total Lots Bought In | 8 |
| Buy In % | 40.00% |
| Total Sale Proceeds | €426169 |
Here is the breakdown (using our typical Low, Mid, and High definitions):
| Detailed Breakdown | |
|---|---|
| Low Total Lots | 4 |
| Total Low Lots Sold | 0 |
| Total Low Lots Bought In | 4 |
| Low Buy In % | 100.00% |
| Aggregate High Estimate of Low Lots | €34000 |
| Total Proceeds from Low Lots | €0 |
| Mid Total Lots | 14 |
| Total Mid Lots Sold | 10 |
| Total Mid Lots Bought In | 4 |
| Mid Buy In % | 28.57% |
| Aggregate High Estimate of Mid Lots | €403000 |
| Total Proceeds from Mid Lots | €295757 |
| Total High Lots | 2 |
| Total High Lots Sold | 2 |
| Total High Lots Bought In | 0 |
| High Buy In % | 0.00% |
| Aggregate High Estimate of High Lots | €120000 |
| Total Proceeds from High Lots | €130412 |
The top photography lot by High estimate was tied between two lots, both estimated at €40000-60000: lot 524, Gerhard Richter, 07.07.1992, 1992, and lot 548, Gilbert & George, Sex & Money, 2011. The Richter print sold at €69960, tying for the top lot honors with lot 174, Man Ray, Lee Miller, c1930, estimated at €20000-30000, sold at €69960 (images above, via Van Ham); the Gilbert & George work sold at €60542.
100.00% of the lots that sold had proceeds in or above the estimate, and there was just 1 positive surprise in the sales (defined as having proceeds of at least double the high estimate) (image above, via Van Ham):
Lot 174, Man Ray, Lee Miller, c1930, estimated at €20000-30000, sold at €69960
Complete lot by lot results can be found here.
