LAMA BLOG

Getting Ready for the March 5, 2017 Auction

Here are some helpful tips to prepare you for the March 5, 2017 auction.

Los Angeles Modern Auctions

Auction Date:
Sunday, March 5, 2017

Auction starts promptly at:
12:00 Noon (Pacific Time)

Auction is held at:
16145 Hart Street
Van Nuys, CA 91406

Although all phone/absentee bids were due by:
Saturday, March 4 at 5 p.m. (Pacific Time), we will try our best to accommodate your absentee bids.

Doors to the auction house open to last-minute previewers at:
11 a.m., Sunday, March 5, 2017 (16145 Hart Street Van Nuys, CA 91406)

Buyer’s premium for in-person/phone/absentee/LAMA App bidders:

If payment is received by March 15, 2017:

  • 22.5% on the hammer price up to and including $500,000 if the bids are placed directly with Modern Auctions, Inc.
  • 17.5% on the portion of the hammer price in excess of $500,000 up to $2,000,000 if bids are placed directly with Modern Auctions, Inc.
  • 12.5% on the portion of the hammer price in excess of $2,000,000 if bids are placed directly with Modern Auctions, Inc.

 

If payment is received after March 15, 2017:

  • 25% on the hammer price up to and including $500,000 if bids are placed directly with Modern Auctions, Inc.
  • 20% on the portion of the hammer price in excess of $500,000 up to $2,000,000 if bids are placed directly with Modern Auctions, Inc
  • 15% on the portion of the hammer price in excess of $2,000,000 if bids are placed directly with Modern Auctions, Inc.

 

**The buyer’s premium will not be discounted for bidding with LiveAuctioneers (28%) 

Payment by Credit Card carries a 3% processing fee on the total invoice amount and requires completion of LAMA’s “Credit Card Authorization” form. 

Buyer’s premium for all bids placed on LiveAuctioneers:
28% and cannot be reduced.

Buyer’s premium for lots sold to benefit The Palm Springs Art Museum (Lots 164-236):
No Buyer’s Premium On Lots 164-236

Registration for in-person bidding:
You must bring your driver’s license and a valid credit card. We ask for the credit card information as a formal agreement; we do not charge your card.

What is the LAMA App?:
This is a new bidding platform to view the auctions on the go, follow artists, register and bid for the auction – all from your mobile device or your computer. Our newly developed mobile bidding platform allows you to watch and participate in the auctions directly with LAMA

People ask, “How many lots do you get through in one hour?”
About 70 – 75 lots per hour.

Can you watch the auction happening live online?
Yes, you can. Please go to www.lamodern.com to watch the live bidding. You do NOT need to register for a username to simply watch the live bidding online. Also, please download the LAMA App (click here) to follow the lots and results.

How and where do I park at your auction?
We offer complimentary valet parking.

Will you be offering food and beverages during the auction?
Yes, The Hungry Nomad will be serving lunch, and beverages will be provided as well.

What do I do if I was a successful phone or absentee bidder?
A LAMA representative will be calling you no later than Tuesday, March 7th to go over your invoice, as well as payment and shipping details.

When can I pick up the lots I won if I am a successful bidder?
Monday – Friday; 9 a.m. – 5 p.m.

Good luck to all bidders!

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