LAMA BLOG

May 17 Auction Recap: Three World Records!

May 20, 2015

 

The house was buzzing at the May 17 auction when LAMA realized prices identical to New York auction house results for similar works by Alexander Calder, Andy Warhol, and Pablo Picasso. The top lot was an impressive standing mobile by Alexander Calder that brought $826,250.

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May 17, 2015 Modern Art & Design Auction

Additionally, LAMA broke three world auction records for California artists (previously set by LAMA), proving it is the maker of markets as made evident with total auction sales for Sunday’s auction realizing $3 million, selling 119% of the 310 lots by value.

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Peter Loughrey at May 17, 2015 Modern Art & Design auction

“We are continuing to show the marketplace that sellers no longer have to ship their modern art to New York to get the highest price,” states Peter Loughrey, director of LAMA. “Whether it’s $1,000 or $1,000,000, sellers can get the same price in Los Angeles.”

Lot 167 Alexander Calder Quatre Blancs 1976

Lot 167 Alexander Calder Quatre Blancs 1976
May 17, 2015 Modern Art & Design Auction

Quatre Blancs (1976), a highly anticipated standing mobile by Alexander Calder, hit the auction market for the first time on Sunday carrying a pre-sale estimate of $500,000–700,000. After vigorous bidding from local, national, and international collectors, the sculpture realized $826,250–a price on par with Calder standing mobiles that sold at New York auctions just days before.

LOT 181, ANDY WARHOL, $, May 17, 2015 Modern Art & Design Auction

Lot 181, Andy Warhol, $, 1982
May 17, 2015 Modern Art & Design Auction

Andy Warhol’s $ (1973) realized $43,750 and a Pablo Picasso Bull turned pitcher (1955) realized $68,750–matching results previously achieved in New York for works of the same edition.

Lot 151, Pablo Picasso Bull (1955) Estimate: $50,000–70,000 Realized: $68,750 May 17, 2015 Modern Art & Design Auction at LAMA

Lot 151, Pablo Picasso, Bull turned pitcher, 1955
May 17, 2015 Modern Art & Design Auction

 

As a dedicated champion of California artists, LAMA established three new world auction records for Southern California modernists. June Harwood’s Untitled (from the Sliver Series) (1964), (Lot 200, est. $5,000–7,000), realized $33,750, exceeding the previous world auction record, also set by LAMA in February 2014. Oskar Fischinger’s Space Abstraction (1966), (Lot 139, est. $4,000–6,000) brought $17,500, exceeding the previous world auction record also set by LAMA in October 2012. A group of four acrylic towers (1976) by Vasa (Velizar Mihich), (Lot 63, est. $8,000–10,000), reached $37,500, nearly doubling the previous world auction record for the artist set by LAMA in March 2011.

Lot 200, June Harwood Untitled (from the Sliver Series) (1964) Estimate: $5,000–7,000 Realized: $33,750 Set an auction record for the artist (previously set by LAMA) May 17, 2015 Modern Art & Design Auction at LAMA

Lot 200, June Harwood Untitled (from the Sliver Series), 1964
May 17, 2015 Modern Art & Design Auction

 

Additional fine art highlights include: a complete Campbell’s Soup I portfolio by Andy Warhol that sold for $481,250; Andy Warhol’s Mao (1973), which sold for $50,000; a drawing by Raymond Pettibon from 1986 fetched $22,500; and a work on paper by Ed Moses from 1990 realized $11,250.

Design highlights include: a Sam Maloof rocking chair, which realized $42,500; a prototype Tony Duquette screen brought $37,500; a “Non Stop” sofa (1972) from Swiss design team Berger, Pedduzi-Riva & Ulrich realized $23,750; and a Jean Prouvé school desk fetched $11,875.

Top Lots:

Alexander Calder, Quatre Blancs (1976), (Lot 167, est. $500,000–700,000) realized $826,250
Andy Warhol, Campbell’s Soup I portfolio (1968), (Lot 180, est. $400,000–600,000) brought $481,250
Pablo Picasso, Fish Service (1947), (Lot 150, est. $75,000–100,000) sold for $93,750
Billy Al Bengston, Augies Riviera Dracula (1972), (Lot 117, est. $70,000–90,000) fetched $87,500
Pablo Picasso, Bull turned pitcher (1955), (Lot 151, est. $50,000–70,000) realized $68,750
Andy Warhol, Mao (1973), (Lot 182, est. $25,000–35,000) realized $50,000
Andy Warhol, $ (1973), (Lot 181, est. $35,000–45,000) realized $43,750
Sam Maloof, Rocking chair (executed 2009), (Lot 29, est. $35,000–45,000) brought $42,500
Tony Duquette, Six panel screen (designed c. 1994), (Lot 47, est. $12,000–15,000) realized $37,500
Vasa, Group of four towers (1976), (Lot 63, est. $8,000–10,000) totaled $37,500

Stay tuned for LAMA’s next Modern Art & Design auction–scheduled for October 2015.

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Good Humor Ice Cream at May 17, 2015 Modern Art & Design Auction

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