LAMA BLOG

LAMA 2014 Sales Increase 58.8% from 2013

November 3, 2014

For Immediate Release

November 3, 2014

LOS ANGELES, CA – This year was once again a period of new records and strong prices for Los Angeles Modern Auctions (LAMA). In 2014, LAMA’s yearly sale total increased by 58.8% from 2013, the largest increase in its 22-year history. The sale total for 2013 was $7,030,000, with the average lot selling for $6,750, while 2014 boasted a sale total of $11,950,000, with the average lot selling for $8,800. The micro-climate at LAMA – getting both top consignments and top prices – has provided extra value to consignors as it increasingly cultivates results that outperform other auction houses for the same material. From a single work of art to an entire estate, LAMA continues to be the auction house of choice on the West Coast to buy and sell Modern Art & Design.

The year got off to an exuberant start with the sale of a 8.5-foot crocheted wire sculpture from important American sculptor Ruth Asawa, which soared nearly five times over its estimate to $1.43 million and effectively tied the world auction record for any work by the artist. Los Angeles artists fared particularly well: Mike Kelley’s monumental Nazi War Cave #1 (1985) set a new world auction record for a work on paper from the artist, while Ed Ruscha’s Double Standard (1969) ushered in a world record auction price for any print by the artist. In design highlights, Maria Pergay’s iconic stainless steel Flying Carpet daybed set a new world auction record for that model.

Los Angeles Modern Auctions (LAMA)

  • Ruth Asawa, Untitled (S.437) (Lot 236 est. $300,000 – 500,000) realized $1.43 million, effectively tying the auction record for any work by the artist
  • 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

 

Additionally, LAMA excelled in representing important
collections of Fine Art & Design in 2014:

  • A collection of 60 designs by George Nakashima from the Edmund J. Bennett collection together brought $469,875, going over its total pre-sale estimate of $372,800
  • A selection of custom William “Billy” Haines furnishings from an important Beverly Hills commission together exceeded its pre-sale estimate of $146,300, totaling $241,312
  • A group of seven Hans Wegner designs purchased from the original owner together totaled $125,938, far exceeding its total pre-sale estimate of $34,000
  • Fine Art and Design from a local Los Angeles collector, a total of 31 lots hit the market for the first time together totaled $165,000, with a pre-sale estimate of $156,000

 

A year in review, LAMA 2014 auction statistics:

February 23, 2014 Modern Art & Design Auction
Total sale realized: $5.29 million
Total lots offered: 388
Sell-through rate by value: 177%

May 18, 2014 Modern Art & Design Auction
Total sale realized: $2.20 million
Total lots offered: 437
Sell-through rate by value: 120%

October 12, 2014 Modern Art & Design Auction
Total sale realized: $4.46 million
Total lots offered: 529
Sell-through rate by value: 128%

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. – END –

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