As far as auctions in this country are concerned, the German art market attracted more international attention than ever before in the course of the past year. He has stepped out of the shadow of European competition, for example in Paris. The dominant role of London has so far remained unchanged; however, Brexit has a noticeable impact on the international art business. The reason for the increased interest in the German market were the good results that could be achieved - despite the ongoing, even worsening pandemic. Here it is exclusively local houses who use the market with auctions - at least at the moment. In what was unexpectedly quick and smooth for many, you have found yourself in an efficient innovation push,adjusted to the conditions imposed by Covid-19: with numerous online auctions including written and telephone participation; finally then again with hybrid events that are possible with the necessary hygiene measures.
Rose-Maria Gropp
Editor in the features section, responsible for the “art market”.
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The prices achieved in the process attracted justified attention.
In mid-July 2020, Ketterer was able to strike Gerhard Richter's sister portrait of “Christiane and Kerstin” in Munich for 2.1 million euros, probably to a bidder from Hong Kong.
The absolute top was marked by Lempertz in Cologne, when the hammer fell there at 3.6 million euros for George de La Tours “La fillette au braisier”;
this exquisite old master was auctioned off with 21 other lots from the collection of the entrepreneur Hinrich Bischoff.
The Louvre Abu Dhabi was announced as a buyer this spring.
In total, there were four surcharges above one million euros in Germany in the crisis year 2020.
Could the road to success continue, at least with continued restrictions on viewing the works of art by potential buyers as well as on acquisition? Although the current year has only arrived at half-time, the first balance sheet looks extremely positive. Further increases can even be determined, in more than one respect: Not only have the works of art offered in the auctions become better value. But also the affluent clientele, noticeably in the top price segment, has become significantly more international. This is what the top pieces we show here stand for.
In the German houses, including the important summer auctions, there were already eight knock-downs at one million euros up to July and a few times considerably more; Including the respective premium, more than a dozen of the prices achieved are above the million mark. This premium due at auctions, which the consignors, but above all the buyers, have to pay, is now in the range of twenty to 25 percent of the total of the hammer price on the buyer's side. This is the real business for the art auctioneer.
It is noticeable that five of the top lots come from important collections that the German houses were able to secure either in whole or in parts that were sold from them. Accordingly, they also brought them further expensive sales below the million mark. The Deutsche Bank, which has been gradually separating from its once capital collection for some time in order to create space for the contemporary, according to the opinion of the financial institution, contributed Ernst Wilhelm Nays “Doppelspindel - Rot” from 1967 (our picture 2) to Ketterer which far exceeded her estimate; the plant goes to Switzerland.