LAMA BLOG

LA Auction House Gets NY Prices For Calder, Warhol, Picasso

May 19, 2015

For Immediate Release
May 19, 2015

LOS ANGELES, CA – Los Angeles Modern Auctions (LAMA) achieved prices identical to New York auction house results for similar works by Alexander Calder, Andy Warhol, and Pablo Picasso in its May 17, 2015 Modern Art & Design Auction. The top lot was an impressive standing mobile by Alexander Calder that brought $826,250. 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.

Alexander Calder, Quatre Blancs, 1976, LAMA Auction May 17, 2015

Lot 167, Alexander Calder, Quatre Blancs, 1976
Estimate: $500,000–700,000
Realized: $826,250
May 17, 2015 Modern Art & Design Auction at LAMA

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. 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 in the same edition.

LOT 181, ANDY WARHOL, $, May 17, 2015 Modern Art & Design Auction
Lot 181, Andy Warhol $ (1973)
Estimate: $35,000–45,000
Realized: $43,750
May 17, 2015 Modern Art & Design Auction at LAMA

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

“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 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)
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

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; and Vasa’s Group of four towers (1976) (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.

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

 

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 October 2015.

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For more information and images, please contact Shannon Loughrey, Los Angeles Modern Auctions (LAMA), 16145 Hart St., Van Nuys, CA www.lamodern.com | tel: 323-904-1950 | fax: 323-904-1954 | e-mail: Shannon@lamodern.com

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