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Germany’s Auction Market Has Remained Strong Through the Pandemic. Now, It’s Poised to Make Even Bigger Gains
Germany s auctions saw more and more works going over the €1 million mark and international auction houses like Sotheby s have noticed.
July 12, 2021
An employee of Grisebach auction house hangs giant photos by photographer Frank Thiel of the Allied soldiers who once patrolled Berlin that have been displayed at Checkpoint Charlie ar up for auction in Berlin on November 20, 2019. Photo by Tobias Schwarz/AFP via Getty Images.
Sebastian Neußer, a director at Ketterer Kunst, was reclining in a chair in the company’s Munich salesroom with a phone pressed to his ear. He was bidding on behalf of a client for an abstract oil on canvas by German modernist Ernst Wilhelm Nay.
It’s too bad that Christoph Waltz and Amy Adams already co-starred as Walter and Margaret Keane in “Big Eyes,” last year’s under-appreciated art scam biopic that somehow turned a promising plotline about the contested authorship of kitschy portraits of cloying waifs into an oddly somber domestic melodrama.
They would be perfect as the leads in a big-screen depiction of smirking charlatan Wolfgang Beltracchi and his striking wife, Helene, who are the subjects of the documentary “Beltracchi: The Art of Forgery.” This free-spirited German couple made headlines in 2010 after being arrested for pulling off one of the biggest art hoaxes in modern history. They collected millions of dollars from the sale of an estimated 300 bogus paintings that they passed off as found works by great European artists the majority Expressionists and Surrealists from the early 20th century.
Ernst Ludwig Kirchner s Our House, sold for €1.7m Courtesy of Ketterer Kunst
As his train went through a tunnel, one bidder briefly lost his signal while taking part in a live auction online at Munich-based Ketterer Kunst earlier this year. Luckily, the train emerged in time for him to rejoin the bidding.
It is the kind of challenge that auctioneers and their customers have had to adapt to during the pandemic year, with most buyers outside the auction room and an increasing number of sales taking place online. Despite the technological challenges, Europe’s leading auction houses say they have weathered the crisis well as customers adapted quickly, in some cases making online purchases in the millions for art they had only viewed virtually.
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