Good news for art investors as Ketterer Kunst achieves $5.1m for its May auctions
The results represent a 17% increase on 2010 figures, led by a Philipp Otto Runge work
Ketterer Kunst auction of Munich is enjoying a Spring leap with results of more than €3.6m in the May auctions. This tops their proceeds of the same period in the 2010 season by €600,000. Works from the Schiefler collection alone made for a remarkable sales quota of 272 percent (that is, the ratio between the limit and hammer price).
"25 percent new customers alone in the auction of Old Masters and Art of the 19th Century once more confirm that art's attractiveness is still increasing", said Robert Ketterer about the first part of his spring auctions.
This is also proven by an average increase of 67 percent per sold lot (ratio between limit and hammer price) in the section of Old Masters and Art of the 19th Century as well as 71 percent in the section of Modern Art.
The top lot of the recent auctions was Die Zeiten by Philipp Otto Runge which leapt to €152,500 from a starting price of €35,000 - a record price for a work of its kind by the artist.
The company director continues: "What is most striking is the artworks' quality and the fact that art continues to be a means of investment that is crisis-proof. 25 results far beyond the € 20,000 benchmark in the two auctions of Art of the 20th/21st Century up until € 20,000 show this in a most impressive way."
So there is good reason to be excited about the upcoming auctions on June 4, 2011. Watch this space for more news on Ketterer Kunst's auctions.
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Image: Ketterer Kunst