Tuesday, January 5, 2010

Auction Results: Photography and Contemporary Art, December 4 and 5, 2009 @Lempertz

A few more auction results posts today to continue the end of year catch-up. The results from the pair of sales in December at Kunsthaus Lempertz in Cologne (one photography and one contemporary art including photographs) were an improvement over the results from the sales from the previous summer in terms of total proceeds, but were still uneven: the buy-in rate topped 50% and the Total Sale Proceeds missed the Total High Estimate by a meaningful margin (Lempertz does not provide an estimate range in most cases, just a single estimate number, so this figure is used as the High estimate in our calculations).

The summary statistics are below (all results include the buyer’s premium):

Total Lots: 318
Pre Sale High Total Estimate: 633100€
Total Lots Sold: 150
Total Lots Bought In: 168
Buy In %: 52.83%
Total Sale Proceeds: 381282€

Here is the breakdown (using the Low, Mid, and High definitions from the preview post, here):

Low Total Lots: 307
Low Sold: 140
Low Bought In: 167
Buy In %: 54.40%
Total Low Estimate: 482100€
Total Low Sold: 264642€

Mid Total Lots: 11
Mid Sold: 10
Mid Bought In: 1
Buy In %: 9.09%
Total Mid Estimate: 151000€
Total Mid Sold: 116640€

High Total Lots: 0
High Sold: NA
High Bought In: NA
Buy In %: NA
Total High Estimate: 0€
Total High Sold: NA

The top lot by High estimate was lot 321, Bernd und Hilla Becher, Chemische Fabrik Wesseling Bei Koln, 1998, at 15000-20000€; it sold for 15600€. The top outcome of the sale was lot 241, Robert Mapplethorpe, Hyacinth, 1987, at 16800€.

74.67% of the lots that sold had proceeds in or above the estimate. There were a total of 15 surprises in this sale (defined as having proceeds of at least double the high estimate):

Lot 25, Alfred Stieglitz, The Street-Design for a Poster, 1903, at 1800€
Lot 27, Robert Demachy, Speed, 1904, at 1020€
Lot 31, Edward Steichen, Rodin-Le Penseur, 1905, at 1680€
Lot 33, Alfred Stieglitz, Horses, 1904, at 1800€
Lot 37, Edward Steichen, The Little Round Mirror, 1906, 2040€
Lot 45, Alfred Stieglitz, Snapshot-From My Window, New York, 1907, at 1800€
Lot 69, Alfred Stieglitz, The Hand of Man, 1902, at 2640€
Lot 72, Alfred Stieglitz, The Terminal, 1892, at 3840€
Lot 74, Alfred Stieglitz, Spring Showers, New York, 1900, at 3000€
Lot 101, Lichtbildwerkstatt Loheland, Ohne Titel (Maske), 1920, at 840€
Lot 199, Umbo, Selbstportrait mit Leica, 1952, at 5040€
Lot 230, Abe Frajndlich, Ilse Bing, 1986, at 3120€
Lot 271, Gunther Forg, Palazzo Della Civilta, Weltausstellung, Rom, 1996, at 1320€
Lot 280, Andreas Gursky, Cheops, 2005, at 2400€
Lot 686, Christopher Williams, Iraq, 1990, at 6000€

Complete lot by lot results can be found here.

Kunsthaus Lempertz
Neumarkt 3
D-50667 Koln

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