LAMA BLOG

Four World Auction Records Set at LAMA

October 14, 2014

For Immediate Release
October 14, 2014

LOS ANGELES, CA – Los Angeles Modern Auctions (LAMA) set new world records for art and design by Ed Ruscha, Mike Kelley, Robert Mapplethorpe, and Maria Pergay in the October 12, 2014 Modern Art & Design Auction. Strengthening its local and international art market presence, LAMA also sold original works by Alberto Giacometti, Alexander Calder, and John Baldessari above their pre-sale estimates, with total auction sales realizing $4.33 million, selling 124% of the 529 lots by value.

Modern Art and Design auction, October 12, 2014

Ed Ruscha’s Double Standard, 1969, (Lot 75 est. $50,000 – 70,000), set a new world auction record for the highest amount ever paid for any print by the artist. Spirited bidding competition between international and Los Angeles-area buyers drove the final price to $206,250, further confirming LAMA as the leading source for works by contemporary California artists.

Modern Art and Design auction, October 12, 2014

Lot 215, a highly anticipated acrylic work on paper by Mike Kelley from his celebrated series of cave drawings hit the auction market for the first time on Sunday, carrying a pre-sale estimate of $400,000 – 600,000. After lively competition, applause filled the salesroom at the final gavel. The artwork realized $740,000—a new record for a work on paper by the artist.

Modern Art and Design auction, October 12, 2014

Robert Mapplethorpe’s iconic Self Portrait, 1985, (Lot 333 est. $25,000 – 35,000), set a new world auction record for the edition, realizing $87,500. A “Flying Carpet” Daybed by the French designer Maria Pergay set a new record for the 1968 design (Lot 187 est. $100,000 – 150,000), bringing $162,500.

Modern Art and Design auction, October 12, 2014

“After 22 years, LAMA continues to play a key role in the international modern and contemporary art scene,” states Peter Loughrey, director of LAMA. “Many of the same top buyers and sellers at the bigger auction houses are also participating in our sales. With 200 people in the room alone and hundreds more on the phone and internet during Sunday’s auction, LAMA has staked out our part of the art world.”

LAMA_Auction_Oct_2014_136-2-online

LAMA Showroom, Auction Day, October 12, 2014

Additional fine art highlights include: Alexander Calder’s Systeme Solaire Dont un Blanc realizing $100,000; Sweet Dreams, Baby! by Roy Lichtenstein bringing $93,750; John Baldessari’s Three Moments, which far exceeded its pre-sale estimate (Lot 435 est. $6,000 – 9,000), achieving a stunning $53,125; and a Raymond Pettibon ink on paper from 1987, bringing $51,250.

Design highlights include: an Alberto Giacometti floor lamp, acquired directly from Diego Giacometti c. 1968, which realized $162,500; a Sam Maloof rocking chair brought $43,750; and, in a group of George Nakashima designs, the stand out was a coffee table that brought $21,250. Additionally, in the sale LAMA continued to realize exceptional prices for Scandinavian design, including $37,500 for a pair of Finn Juhl NV-45 armchairs; $25,000 for a set of eight examples of “The Chair” by Hans Wegner; and $16,250 for a Finn Juhl “Judas” table.

TOP LOTS:

  • Mike Kelley, Nazi War Cave #1 (Lot 215 est. $400,000 – 600,000) realized $740,000, setting an auction record for a work on paper by the artist
  • Ed Ruscha, Double Standard (Lot 75 est. $50,000 – 70,000) realized $206,250, setting an auction record for any print by the artist
  • Maria Pergay, “Flying Carpet” Daybed (Lot 187 est. $100,000 – 150,000) brought $162,500, setting an auction record for the design
  • Alberto Giacometti, “Lampadaire a tete de Femme” (Lot 191 est. $80,000 – 120,000) fetched $162,500
  • Richard Pettibone, Andy Warhol, Most Wanted Men (Lot 330 est. $100,000 – 150,000) realized $112,500
  • Alexander Calder, Systeme Solaire Dont un Blanc
    (Lot 371 est. $80,000 – 100,000) realized $100,000
  • Roy Lichtenstein, Sweet Dreams, Baby! (Lot 314 est. $70,000 – 90,000)
    realized $93,750
  • Robert Mapplethorpe, Self Portrait (Lot 333 est. $25,000 – 35,000) brought $87,500, setting an auction record for the edition
  • Frederick Hammersley, In Two #27 (Lot 366 est. $30,000 – 50,000) totaled $81,250
  • John Baldessari, Three Moments (Lot 435 est. $6,000 – 9,000) exceeded the pre-sale estimate bringing $53,125

 

Source for auction record data www.artnet.com and www.artinfo.com // Prices Realized include 25% buyer’s premium. Images available by request.
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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 20th century Modern Fine Art and Design. LAMA’s next auction of Modern Art & Design is scheduled for March 1, 2015.

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