Otto Dix Leads Grisebach $2.94m 'Modern Art' Auction in Berlin

A work by Otto Dix was the headline sale at Grisebach 'Modern Art' auction on June 6 in Berlin.

• The sale totaled $2.94m (EUR2.57m), falling short of its pre-sale low estimate.

Snapshot of the sale

• 104 works sold totaling $2.94m.
• Estimates totaled: $3.28m (low) and $4.57m (high), excluding premiums.
• The sell-through rate was 58% of the original 179 lots announced.

The star lot was: Otto Dix, Am Julierpass (1936), which sold for $290,500, 223% above its $89,900 low estimate.

The outperformer sold for 365% above its low estimate. Walter Ophey, Figürchen (1914), sold for $26,100 ($5,620 low estimate).

• 51 works, or 49%, sold above their high estimate.
• 52 works, or 50%, sold within their low and high estimate.
• 1 works, or 1%, sold below their low estimate.
• 0 sold with undisclosed estimates.

Guaranteed sales

No sales had a guarantee.

Works that did not sell

74 works were bought-in, including: Otto Dix, Kornfelder und Bäume bei Iznang (1938), estimated at $78,700 (low) to $101,100 (high).

Withdrawn before the sale

1 work was withdrawn before the sale: Karel Appel, Untitled (Undated) estimated at $33,700 (low) to $44,900 (high).

Terms and definitions

All results include the fees and premiums added to the price of a work of art when the auctioneer's hammer falls. Estimates, sale prices and totals are converted into US dollars. Sale prices are compared to the auction house’s low estimate, which do not include premiums.

Guarantees: Sometimes an auction house guarantees to pay a seller for a work, regardless of whether the bidding reaches the reserve price, a figure that is typically confidential.

Bought-in: If there are no bids for a work, or if bidding falls short of the reserve price, the lot is unsold or “bought-in”.

Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.

Premiums: Typically a sliding-scale of charges paid in addition to the hammer price by the buyer, plus any other fees.