The results of Van Ham's photography sale in Cologne last week were near the bottom of the range of outcomes we have seen this season: a buy-in rate above 60% and proceeds significantly below the estimate range. This was also among the largest of the sales this year, with lots of low end material, so perhaps the conclusion is that demand at the lower end of the market remains quite soft.
The summary statistics are below (all results include the buyer’s premium):
Total Lots: 376
Pre Sale High Total Estimate: 526750€
Total Lots Sold: 138
Total Lots Bought In: 238
Buy In %: 63.30%
Total Sale Proceeds: 225131€
Here is the breakdown (using the Low, Mid, and High definitions from the preview post, here):
Low Total Lots: 370
Low Sold: 135
Low Bought In: 235
Buy In %: 63.51%
Total Low Estimate: 456750€
Total Low Sold: 178881€
Mid Total Lots: 6
Mid Sold: 3
Mid Bought In: 3
Buy In %: 50.00%
Total Mid Estimate: 70000€
Total Mid Sold: 46250€
High Total Lots: 0
High Sold: NA
High Bought In: NA
Buy In %: NA
Total High Estimate: 0€
Total High Sold: NA
63.04% of the lots that sold had proceeds in or above the estimate range. There were a total of five surprises in this sale (defined as having proceeds of at least double the high estimate):
Lot 614, Tim Gidal, TV Face, 1930/1972, at 688€
Lot 628, Philippe Halsman, Marilyn Monroe, 1952, at 7500€
Lot 700, Erich Kukies, Der Sinn des Lebens - Spuren hinterlassen, 2006/2008, at 1375€
Lot 713, Georges Leuzinger, Rio de Janeiro, 1865, at 1625€
Lot 748, Albert Renger-Patzsch, Das Baumchen, 1929, at 32500€
Complete lot by lot results can be found here. I have grossed up the results in this post to reflect the addition of the buyer's premium.
Van Ham Kunstauctionen
Schönhauser Straße 10-16
50968 Köln
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