The recent summer auctions at Grisebach managed to draw an exceptionally high level of international interest – especially from the United States, though German collectors were in the thick of the action as well. The auction hall was packed as online and telephone buyers faced off doggedly in suspenseful bidding battles that drove up the initial estimates to dizzying heights, particularly in the high six-figure range. By the time the evening auction was over, Grisebach had a remarkable success to celebrate: a sales ratio of nearly 90% of the aggregate lower estimates and a YoY turnover increase of over 54%. The firm’s total turnover for the first half of the year is projected at EUR 22 million.
The six top lots from the modern and contemporary art segments
The top lot of the Evening Sale on June 5th was Lyonel Feininger's painting Vollersroda III from 1916, a museum-quality work with an outstanding provenance and notable exhibition history that attracted significant international interest. After hard-fought bidding also over the phones and online, the hammer finally came down at EUR 1,880,000 (including buyer’s premium), an international collection having edged out strong competition from Germany and abroad.
Offering and successfully selling top-drawer works by Max Beckmann for record prices has been a Grisebach specialty since long. The gross price of EUR 1,143,000 achieved for hislarge-format Orchester from 1932 – the evening’s second to pass the million-euro mark – is yet a further milestone. An American private collection is now the owner of the extraordinarystill life.
The evening’s third place was taken by Franz Marc's dynamic composition Vögel über dem Dorf, a work created in 1913, during what is generally regarded as the most innovative phase of the artist’s career. Initially quoted at EUR 400,000, this fine watercolor immediately became a contested highlight. After determined bidding over the phone, a Swiss private collector ultimately prevailed with a gross bid of EUR 889,000.
Likewise, the results achieved for the contemporary art on offer were highly impressive. Thus, the evening auction started off with a new world record for Per Kirkeby: His large-format oil painting Fünf from 1989 was fought over by six telephone bidders from Germany and abroad before going to a German private collection for EUR 571,500 (including buyer's premium).
Further confirmation of vigorous international demand came with the EUR 508,000 knockdown for Günther Förg's monumental spot painting Ohne Titel from 2007. This signature work by the artist was snapped up by an American collector.
Franz West's outsized outdoor sculpture Flora made another striking contribution to the evening’s great success, fetching EUR 571,000 (including buyer’s premium). Created in 2006, the work will now grace a private garden in the German Land of Hesse.
Daniel von Schacky, Chairman of Grisebach’s Managing Board and Partner: “The outstanding results of our summer auctions in Berlin are proof positive of Grisebach’s international drawing power and the trust collectors worldwide place in us. Given the strong demand from the United States, Germany, and Switzerland, we have demonstrated yet again that true quality continues to command a strong market. We are delighted with this success and look forward to the second half of the year with optimism.”