Sale: 524 / Post War / Contemporary Art II, Dec. 10. 2021 in Munich Lot 21

 

21
Otto Piene
Light of the Sphinx, 1980.
Acrylic, fire and smoke on canvas
Estimate:
€ 20,000 - 30,000

 
$ 23,200 - 34,800

+
Light of the Sphinx. 1980.
Acrylic, fire and smoke on canvas.
Signed, dated and titled on the reverse. 80 x 100 cm (31.4 x 39.3 in).
[AM].
• The unique process of creation is the trademark of Piene's Fire Pictures.
• Appealing interplay of coincidence and conception.
• Piene's works are in more than 200 museums around the globe
.

PROVENANCE: Private collection Hesse.

LITERATURE: Lempertz, Cologne, auction 881, December 2, 2005, lot 417.

Called up: December 10, 2021 - ca. 14.56 h +/- 20 min.




 

Buyer's premium, taxation and resale right apportionment for Otto Piene "Light of the Sphinx"
This lot can be purchased subject to differential or regular taxation.

Differential taxation:
Hammer price up to 500,000 €: herefrom 32 % premium.
The share of the hammer price exceeding 500,000 € is subject to a premium of 27 % and is added to the premium of the share of the hammer price up to 500,000 €.
The share of the hammer price exceeding 2,500,000 € is subject to a premium of 22 % and is added to the premium of the share of the hammer price up to 2,500,000 €.
The buyer's premium contains VAT, however, it is not shown.

Regular taxation:
Hammer price up to 500,000 €: herefrom 25 % premium.
The share of the hammer price exceeding 500,000 € is subject to a premium of 20% and is added to the premium of the share of the hammer price up to 500,000 €.
The share of the hammer price exceeding 2,500,000 € is subject to a premium of 15% and is added to the premium of the share of the hammer price up to 2,500,000 €.
The statutory VAT of currently 19 % is levied to the sum of hammer price and premium. As an exception, the reduced VAT of 7 % is added for printed books.

We kindly ask you to notify us before invoicing if you wish to be subject to regular taxation.

Resale right apportionment:
In accordance with §26 of German Copyright Act, a droit de suite charge of 2.4% including VAT is levied for original artworks and photographs for the compensation of the statutory right of resale.