Three additional German auction houses had their photography sales last week: Galerie Bassenge (Berlin), Van Ham Kunstauktionen (Cologne) and Kunsthaus Lempertz (Cologne). In general, the outcomes were comparable to the rest of the season around the world. The results are below (all results include the buyer’s premium):
Galerie Bassenge
Total Lots: 662
Pre Sale High Total Estimate: 549140 Euros
Total Lots Sold: 427
Total Lots Bought In: 235
Buy In %: 35.50%
Total Sale Proceeds: 428900 Euros
The buy-in rate in this sale is artificially high, as the the photo book lots all sold well at very low prices, which made the numbers for the sale as a whole look better.
Here is the breakdown (using the Low, Mid, and High definitions from the preview post, here):
Low Total Lots: 660
Low Sold: 426
Low Bought In: 234
Buy In %: 35.45%
Total Low Estimate: 530140 Euros
Total Low Sold: 420780 Euros
Mid Total Lots: 2
Mid Sold: 1
Mid Bought In: 1
Buy In %: 50.00%
Total Mid Estimate: 19000 Euros
Total Mid Sold: 8120 Euros
High Total Lots: 0
High Sold: 0
High Bought In: 0
Buy In %: NA
Total High Estimate: 0
Total High Sold: 0
All in, this sale earned Bassenge a second place finish among the German houses, behind Villa Grisebach.
Van Ham Kunstauktionen
Total Lots: 422
Pre Sale High Total Estimate: 738440 Euros
Total Lots Sold: 179
Total Lots Bought In: 243
Buy In %: 57.58%
Total Sale Proceeds: 381844 Euros
Not much to say here, just a disappointing outing in a tough market.
Here is the breakdown (using the Low, Mid, and High definitions from the preview post, here):
Low Total Lots: 409
Low Sold: 174
Low Bought In: 235
Buy In %: 57.46%
Total Low Estimate: 542440 Euros
Total Low Sold: 260469 Euros
Mid Total Lots: 12
Mid Sold: 4
Mid Bought In: 8
Buy In %: 66.67%
Total Mid Estimate: 146000 Euros
Total Mid Sold: 61375 Euros
High Total Lots: 1
High Sold: 1
High Bought In: 0
Buy In %: 00.00%
Total High Estimate: 50000 Euros
Total High Sold: 60000 Euros
Kunsthaus Lempertz
Total Lots: 220
Pre Sale High Total Estimate: 315300 Euros
Total Lots Sold: 73
Total Lots Bought In: 147
Buy In %: 66.82%
Total Sale Proceeds: 181932 Euros
With only approximately 30000 Euros of premium, this sale likely didn't break even against its costs. It was the worst outcome of the season (just nosing out Sotheby's London).
The photography lots in the Contemporary Art sale the same day brought in additional proceeds of 117960 Euros (against an estimate of 315300 Euros, with a 61.22% buy-in rate).
Here is the breakdown of photography sale only (using the Low, Mid, and High definitions from the preview post, here):
Low Total Lots: 214
Low Sold: 71
Low Bought In: 143
Buy In %: 57.46%
Total Low Estimate: 366150 Euros
Total Low Sold: 134172 Euros
Mid Total Lots: 6
Mid Sold: 2
Mid Bought In: 4
Buy In %: 66.67%
Total Mid Estimate: 52000 Euros
Total Mid Sold: 47760 Euros
High Total Lots: 0
High Sold: 0
High Bought In: 0
Buy In %: NA
Total High Estimate: 0 Euros
Total High Sold: 0 Euros
Overall, the German fall season was surprisingly weak, and was likely hindered by falling at the end of the run of sales. With potential buyers being much more careful and picky, there just wasn't enough quality material in these sales to generate real interest.
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