Edvard Munch Leads Ketterer Kunst $21.07m 'Evening Sale' in Munich

A work by Edvard Munch was the headline sale at Ketterer Kunst 'Evening Sale' on June 6 in Munich.

• The sale totaled $21.07m (EUR20.95m), meeting the pre-sale estimate.

Snapshot of the sale

• 42 works sold totaling $21.07m.
• Estimates totaled: $18.06m (low) and $26.51m (high), excluding premiums.
• The sell-through rate was 76% of the original 55 lots announced.

The star lot was: Edvard Munch, Das rote Haus (Det røde hus) (1926), which sold for $2.33m, 72% above its $1.35m low estimate. It has been traded 4 times in the past.

The outperformer sold for 260% above its low estimate. Sam Francis, Untitled (1992), sold for $405,000 ($112,400 low estimate). It has been traded twice in the past.

• 28 works, or 67%, sold above their high estimate.
• 14 works, or 33%, 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: Alexej Jawlensky, Kopf in Bronzefarben – Bildnis Sacharoff (1913), estimated at $1.69m (low) to $2.81m (high). It has been traded 8 times in the past.

Withdrawn before the sale

0 works were withdrawn

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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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