Max Liebermann Leads Sotheby's $2.73m 'Modern & Contemporary Art' Auction in Cologne
3 min read · 06 Nov 2024
Gartenlokal am Wannsee (Haus am See) (Beergarden near the Wannsee (house on the lake)) by Max Liebermann sold for $765,500. Image courtesy of Sotheby's
A work by Max Liebermann was the headline sale at Sotheby's 'Modern & Contemporary Art' auction on November 12 in Cologne.
- The sale totaled $2.73m (EUR2.57m), falling short of its pre-sale low estimate.
Snapshot of the sale
- 17 works sold totaling $2.73m.
- Estimates totaled: $4.17m (low) and $6.09m (high), excluding premiums.
- The sell-through rate was 61% of the original 28 lots announced.
The star lot was: Max Liebermann, Gartenlokal am Wannsee (Haus am See) (Beergarden near the Wannsee (house on the lake)) (1933), which sold for $765,500, its estimated price. It has been traded 4 times in the past.
The outperformer sold for 134% above its low estimate. Martha Jungwirth, Untitled (from the series "Paros") (2012), sold for $76,600 ($32,600 low estimate). It has been traded once in the past.
Breakdown of results against auction house estimates that are disclosed
- 5 works, or 29%, sold above their high estimate.
- 9 works, or 53%, sold within their low and high estimate.
- 3 works, or 18%, sold below their low estimate.
- 0 sold with undisclosed estimates.
Guaranteed sales
No sales had a guarantee.
Works that did not sell
11 works were bought-in, including: Max Liebermann, Blumenstauden am Gartenhäuschen nach Nordosten (Flowering shrubs by the garden shed facing north-east) (1926), estimated at $488,700 (low) to $705,900 (high). It has been traded 5 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Withdrawn before the sale
0 works were withdrawn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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.