Auction Results: Photographs from the Teutloff Collection, May 24, 2013 @Lempertz

The results of the recent sale of photographs from the Teutloff Collection at Kunsthaus Lempertz in Cologne were decidedly flat. The overall Buy-In rate was nearly 50% and the Total Sale Proceeds came in well below the estimate target. 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 the calculations.

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

Total Lots: 99
Pre Sale High Total Estimate: €436500
Total Lots Sold: 52
Total Lots Bought In: 57
Buy In %: 47.47%
Total Sale Proceeds: €297520

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

Low Total Lots: 82
Low Sold: 44
Low Bought In: 38
Buy In %: 46.34%
Total Low Estimate: €232500
Total Low Sold: €178570

Mid Total Lots: 17
Mid Sold: 8
Mid Bought In: 9
Buy In %: 52.94%
Total Mid Estimate: €204000
Total Mid Sold: €118950

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 313, Hendrik Kerstens, Bag, 2007, estimated at €15000-20000; it sold for €19520. The top outcome of the sale was lot 343, Jürgen Klauke, Toter Photograph, estimated at €14000-18000, sold at €29280.

100.00% of the lots that sold had proceeds in or above the estimate. There were a total of 9 surprises in the sale (defined as having proceeds of at least double the high estimate):

Lot 341, Dieter Appelt, Image de la Vie et de la Mort, 1979, estimated at €5000, sold at €10980 (image at right, middle, via Lempertz)
Lot 346, Stefan Moses, Jospeh Beuys, Munchen, 1968/later, estimated at €800, sold at €2070
Lot 348, Cindy Sherman, Ancestor, 1985, estimated at €1500-2000, sold at €4880
Lot 349, Joel-Peter Witkin, La Giovanissima, 2007, estimated at €2000, sold at €13420 (image at right, top, via Lempertz)
Lot 357, Mario Cravo Neto, O Deus da Cabeca, 1988, estimated at €1500, sold at €3900
Lot 358, Mario Cravo Neto, Voodoo Figure, 1988, estimate at €1500, sold at €3900
Lot 359, Adam Nadel, Ohne Titel, 2004, estimated at €2500, sold at €5120
Lot 361, Steve McCurry, India, Kerala, Hundus During Trichur Pooram, 1996, estimated at €1800, sold at €3900
Lot 392, Rudolf Schwarzkogler, Aktion mit Seinem Eigenen Korper, 1966, estimated at €6000, sold at €12200 (image at right, bottom, via Lempertz)

Complete lot by lot results can be found here.

Kunsthaus Lempertz
Neumarkt 3
D-50667 Köln