Art as a popular means of investment
Lasting animation among buyers makes for sharp increases in art auction
Munich, 16 June 2010, (kk) – High quality art is more in demand than ever before, which has been confirmed by the excellent result of € 12 million** in Ketter Kunst’s spring auctions. "There has never been a better time to sell art", said Robert Ketterer, auctioneer and owner of Ketterer Kunst.
"The auctions on 12 June alone attracted more than 600 bids, which is an average of more than three bidders per lot", continues the company’s head. "We sold all top ten objects in the section of Modern Art, most of them realizing high increases. This result, as well as the fact that an extraordinary amount of new private customers were registered, expresses the increased appraisal for quality art as a durable capital good".
Robert Ketterer auctioning off one of the top lots:Gabriele Münter
Beim Malen (wohl Marianne von Werefkin). Around 1911 Oil on cardboard, (27.3 x 19 in)
Result € 366 000*
Nr. 20: Gabriele Münter
Landschaft mit Sonnenblumen
€ 378 000* Starting price: € 180 000
Nr. 48: Wladimir Georgiewitsch von Bechtejeff
Reptilien
€ 366 000* Starting price: € 220 000
Nr. 37: Gabriele Münter
Beim Malen (wohl Marianne von Werefkin)
€ 354 000* Starting price: € 160 000
Nr. 213: Günther Uecker
Feld("Haut")
€ 317 000* Starting price: € 100 000
Nr. 44.10: Emil Nolde
Marschlandschaft
The focal points of the June auctions were on:
1. Modern Art
2. Post War/Contemporary Art
on 1: Modern Art
This spring’s main auction was opened by the section of Modern Art, which was lead by the impressive oil painting "Landschaft mit Sonnenblumen" (lot 20) by Gabriele Münter. Called up with € 180 000, it was mostly bidders from the German language region competing for the painting. Finally, a collector from southern Germany awarded the painting with an overall result of € 390 000*. The other two works by the artist also went to bidders from southern Germany. While "Staffelsee" from 1934 (lot 59, starting price: € 100.000) was acquired by a private collector for € 256 000*, an art dealer granted € 366 000* for "Beim Malen (wohl Marianne von Werefkin)" (lot 37, starting price: € 220 000).
On the contrary, Wladimir Georgiewitsch von Bechtejeff‘s oil painting went to the far north. An art lover let the € 180 000 starting price of the mermaid-like "Reptilien" (lot 48) soar to a result of € 378 000* and relegated competitors to second places and beyond.
"All sold", and most with results clearly above their starting price, can be said about five works by Emil Nolde. First and foremost is his watercolor "Marschlandschaft" (lot 44A), for which a southern German collector accepted an increase from a starting price of € 100 000 to a final sum of € 317 000*.
Works by Alexej von Jawlensky made for similar success, most of all his "Variation" (lot 24, starting price: € 80 000), which was ennobled at € 152 000* by a collector from southern Germany.
In the section of plastic art it was Auguste Rodin‘s bronze "Andrieu d'Andres (Les bourgeois de Calais)" (lot 12), which was sold for € 189 000*, which is almost a three-fold of the starting price of € 70 000. It went to a collector from France.
The same sum was considered worthwhile paying for Diego Giacometti‘s "La table Grecque" by a collector from southern Germany (lot 75, starting price: € 100 000). The shelf "Bibliothèque au Mexique" (lot 85, starting price: € 70 000) by the same artist went to the hands of an art dealer from Great Britain for € 113 000*.
| Lot no. | Artist (Technique) | Title | Starting price | Result |
|---|---|---|---|---|
| 5 | Rohlfs (oil) | Holsteinisches Bauernhaus | € 85 000 | € 104 000* |
| 17 | Eberz (oil) | Tänzerin (Beatrice Mariagraete) | € 23 000 | € 101 000* |
| 55 | Rohlfs (tempera) | Blaues Haus | € 30 000 | € 88 000* |
| 58 | Nolde (watercolor) | Rote Blüten | € 55 000 | € 82 000* |
| 42 | Rée (oil) | Spanierin | € 12 000 | € 73 000* |
| 39 | Topp (oil) | Schwarze Fenster | € 20 000 | € 71 000* |
| 52 | Kirchner (chalk) | Sitzende am Tisch | € 25 000 | € 65 000* |
| 53.10 | Nolde (watercolor) | Frauenkopf im Halbprofil … | € 22 000 | € 61 000* |
on 2. Post War/Contemporary Art
Just as expected, this section was headed by works from the ZERO artists. Accordingly, the list of top results is lead by Günther Uecker‘s works. A Belgian collector managed to stand up to the grim competition of a fellow countryman as well as international bidders, from, among others, Italy, with a fianl price of € 354 000* for the work "Feld ("Haut")" from 1964 (lot 213, starting price: € 160 000). His work "Spirale", nailed some 34 years later (lot 266, starting price: € 65 000), remained in Germany after a hot bidding skirmish. A bidder in the auction room won against numerous written bids and international telephones with a result of € 171 000*.
It needed an offer of € 73 000*, made by an art dealer from the Rhineland, to halt the bidding frenzy of his colleagues and other private collectors from Belgium and Germany and to win the race for "Structure dynamique noire" (lot 203, starting price: € 30 000) by the ZERO founding member Heinz Mack.
The ZERO periphery was extremely successful as well. While Gotthard Graubner‘s "Farbraumkörper" (lot 226, starting price: € 40 000) went to a new customer from Germany for € 98 000*, the other foamed plastic cushion "Ohne Titel" (lot 228, starting price: € 25 000) went to a southern German art dealer for € 49 000*.
The oil painting "Andalousie" (lot 246, starting price: € 100 000) by Maurice Estève can also be found in the top ranks. It will now adorn the walls of a collector from Hesse for € 146 000*.
Even though it goes to a different city, Hesse will also be the future home of Jörg Immendorff‘s "Affenbaum" (lot 272, starting price: € 65 000). The bronze, which does not only impress the observer with its dimension, leads the sculpture section with a result of € 104 000*.
Also Norbert Kricke‘s "Raumplastik" (lot 200, starting price: € 35 000) was much sought-after. A Berlin collector stopped the bidding skirmish at € 83 000*.
Other objects that realized excellent increases:
| Lot no. | Artist (Technique) | Title | Starting price | Result |
|---|---|---|---|---|
| 204 | König (bronze) | Camarque XX/3 | € 28 000 | € 95 000* |
| 285 | Richter (oil) | Abstraktes Bild | € 30 000 | € 83 000* |
| 261 | Müller (mixed media) | Soho/Die Schau | € 25 000 | € 67 000* |
| 206 | Nay (mixed media) | Männer mit Stier | € 12 000 | € 67 000* |
| 207 | Schumacher (oil) | Bogen von Rostrot | € 25 000 | € 61 000* |
| 227 | Jenkins (oil) | Interim | € 9 500 | € 27 000* |
All unsold objects can be acquired in the post auction sale until mid August 2010. Lists with results are available by phone under +49-(0)89-55244-0.
* The result is the hammer price + 22 percent buyer’s premium.
** Unlike other German auction houses, Ketterer Kunst holds its season auctions on several days, which is reflected by the overall result of € 12 million* for spring 2010.
| Press inquiries: | Customer inquiries: |
|---|---|
| Ketterer Kunst | Ketterer Kunst |
| Joseph-Wild-Str. 18 | Joseph-Wild-Str. 18 |
| 81829 Munich | 81829 Munich |
| Michaela Derra M.A. | |
| phone:+49-(0)89-55244-152 (Fax: -177) | phone:+49-(0)89-55244-444 (Fax.:-177) |
| e-mail: m.derra@kettererkunst.de | e-mail: info@kettererkunst.com |
