LAMA BLOG

LAMA Posts Strong Prices for International Works

May 25, 2016

Los Angeles Modern Auctions (LAMA), champion of California modern and contemporary art and design, achieved top prices for works by local, national, and international artists and designers at auction on May 22, 2016. LAMA set world record prices for Sheila Hicks, a work on paper by Ken Price, and a painting by Jules Olitski from his late period, proving that geography is not a limitation for this boutique auction house, which continues to secure first-rate consignments. The top lot of the auction, a rare Isamu Noguchi Chess Table, rose to $137,500, spurred by competitive floor and phone bidding. LAMA’s total auction sales for the Modern Art & Design Auction realized $2 million, selling 112% of the 326 lots by value.

Lot 200, Sheila Hicks, Untitled, 1975
Lot 200, Sheila Hicks, Untitled, 1975
Estimate: $40,000–60,000 / Realized: $125,000
Set an auction record for the artist
May 22, 2016 Modern Art & Design Auction

“LAMA is quickly becoming the most efficient and effective gateway into the global marketplace,” states Peter Loughrey, director of LAMA. “The advantage of selling at LAMA is simple: artworks bring the top prices and sellers get the best value.”

Peter and Shannon Loughrey, LAMA, May 22, 2016 Auction
Peter Loughrey and Shannon Loughrey, Director and President of LAMA
May 22, 2016 Modern Art & Design Auction

Fine Art highlights include a monumental fiber art commission from 1975 by Sheila Hicks, which doubled its high estimate and set an auction record for the artist, realizing $125,000. A Jules Olitski painting from 1989 far exceeded pre-sale expectations and realized $102,500, a record for any work created after 1970 by the artist. A work on paper by Ken Price, L.A. Riot (1994), realized $58,750, a world record for a work on paper by the artist. Tom Wesselmann’s Stockinged Nude, Edition #2 realized $71,875, John Register’s Motel: Route 66brought $50,000, and a trio of Harry Bertoia Sonambient sculptures together brought $123,750.

Lot 184, Isamu Noguchi, Chess Table, 1944-1947
Lot 184, Isamu Noguchi, Chess Table, Herman Miller, Designed 1944–1947
Estimate: $100,000–150,000 / Realized: $137,500
May 22, 2016 Modern Art & Design Auction

Prints and multiples by blue-chip veterans which soared past estimates include works by Andy Warhol, Francis Bacon, Roy Lichtenstein, Henri Matisse, Pablo Picasso, John Baldessari, Ed Ruscha, Cy Twombly, Robert Motherwell, Frank Stella, and Ellsworth Kelly.

Design and decorative arts highlights include a Gio Ponti planter, which brought $20,000, a Philip and Kelvin LaVerne coffee table, which realized $13,750, a mural of 148 vintage tiles by Doyle Lane, which realized $12,500, and a pair of Arthur Espenet Carpenter wood benches, which realized $11,875.

TOP LOTS:

  • Isamu Noguchi, Chess Table (1944-1947),
    (Lot 184, est. $100,000–150,000) realized $137,500
  • Sheila Hicks, Untitled (1975), (Lot 200, est. $40,000–60,000)
    brought $125,000, setting an auction record for the artist
  • Jules Olitski, Love of Ariel (1989), (Lot 229, est. $20,000–30,000)
    realized $102,500
  • Tom Wesselmann, Stockinged Nude, Edition #2 (1980),
    (Lot 34, est. $35,000–$45,000) fetched $71,875
  • Ken Price, L.A. Riot (1994), (Lot 84, est. $20,000–30,000) realized $58,750,
    setting an auction record for a work on paper by the artist
  • Harry Bertoia, Untitled (Sonambient) (c. 1965),
    (Lot 199, est. $40,000–60,000) realized $53,125
  • John Register, Motel: Route 66 (1991),
    (Lot 241, est. $40,000–60,000) totaled $50,000
  • Harry Bertoia, Untitled (Sonambient) (c. 1965),
    (Lot 197, est. $30,000–50,000) brought $36,250
  • Francis Bacon, Triptych (1981), (Lot 165, est. $15,000–20,000) realized $34,375
  • Andy Warhol, Old Fashioned Vegetable (from Campbell’s Soup II) (1969),
    (Lot 27, est. $12,000–18,000) brought $28,750

–  –  –  –  –  –  –  –  –  –  –  –  –  –  –  –  –  –  –  –  –  –  –  –  –  –  –  –  –  –  –  –  –  –  –

Source for auction record data: www.artnet.com and www.artprice.com // Prices Realized include 25% buyer’s premium on the first $500,000, then tiered after.
Images available by request.

Los Angeles Modern Auctions (LAMA), the fastest growing auction house in the modern and contemporary art world, is the leading auction house dedicated to selling Modern and Contemporary Fine Art and Design. LAMA’s next auction of Modern Art & Design is scheduled for October 9, 2016.

Leave a Reply

BID AND FOLLOW ON THE LAMA APP