Grisebach Selected Works Auction Totals $15.82m

A work by Georg Kolbe was the headline sale at Grisebach 'Selected Works' auction on June 4 in Berlin.

• The sale totaled $15.82m (EUR13.61m), exceeding the pre-sale high estimate.

Snapshot of the sale

• 42 works sold totaling $15.82m.
• Estimates totaled: $8.47m (low) and $12.01m (high), excluding premiums.
• The sell-through rate was 74% of the original 57 lots announced.

The star lot was: Georg Kolbe, Tänzerinnen–Brunnen (1922), which sold for $5.79m, 397% above its $1.16m low estimate. It has not been traded before.

The outperformer sold for 1910% above its low estimate. Paula Modersohn-becker, Selbstbildnis mit Landschaft vor Bäumen (1903), sold for $584,900 ($29,100 low estimate). It has not been traded before.

• 27 works, or 64%, sold above their high estimate.
• 15 works, or 36%, sold within their low and high estimate.
• 0 works, or 0%, sold below their low estimate.
• 0 sold with undisclosed estimates.

Guaranteed sales

No sales had a guarantee.

Works that did not sell

13 works were bought-in, including: Max Beckmann, Springbrunnen in Baden-Baden (1936), estimated at $465,500 (low) to $698,200 (high). It has not been traded before.

Withdrawn before the sale

2 works were withdrawn before the sale, including: Serge Poliakoff, Composition abstraite (1962), estimated at $139,600 (low) to $209,500 (high).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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.