LAMA BLOG

Auction Day is Here: November 18th!

November 17, 2018

Helpful tips to prepare you for the November 18, 2018 auction

Los Angeles Modern Auctions (LAMA)

Auction Date:
Sunday, November 18, 2018

Auction begins at:
12:00 p.m. (noon), Pacific Time

Auction is held at:
16145 Hart Street
Van Nuys, CA 91406
(cross street, Woodley and Sherman Way)

Phone & Absentee bids were due by:
Saturday, November 17 at 5 p.m. (Pacific Time)
However, we will try our best to accommodate absentee bids received after this time. If you register to bid on the App, you may submit bids in advance or live as the lots go on the block.

Doors open to auction attendees at:
11 a.m. (Pacific Time), Sunday, November 18, 2018
Location: 16145 Hart Street Van Nuys, CA 91406

How do I register to bid in-person at the auction? Do I need a ticket or reservation?
LAMA’s auctions are free and open to the public. To receive a bidding paddle, you must register your details at the front desk, including 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 automatically.

What is the LAMA App?
This is our bidding platform to view the auctions, follow artists, register for and bid in the auction – all from your mobile device or your computer. To register you must create an account with the App – this is independent of your LAMA account.

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

If payment is received by November 28, 2018:

  • 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 November 28, 2018:

  • 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.

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

How many lots do we sell in one hour?
About 60-70 lots per hour.

Can I watch the auction live online?
Yes, you can. Please click here to watch the live bidding. Also, you may download the LAMA App (click here) to follow the lots and results from your smart phone or tablet.

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

Will you be offering food and beverages during the auction?
Yes, LAMA offers complimentary food and beverage service to all attendees. Cafe Vietnam will be serving lunch at the November 18th auction.

What do I do if I am a successful bidder?
A LAMA representative will be calling you no later than Tuesday, October 2nd to go over your invoice, as well as payment and shipping details. If you are an international client, a LAMA representative may just email you an invoice first.

When can I collect the lots I won if I am a successful bidder?
Auction attendees may pay for and collect their purchases on Sunday, November 18, 2018. After this time, property may be collected during LAMA’s regular business hours of Monday – Friday; 9 a.m. – 5 p.m.

Good luck to all bidders!

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