LAMA announces first ever online-only auction
Following the successful launch of Los Angeles Modern Auctions’ (LAMA) proprietary bidding application in 2017, LAMA will be offering the first 53 lots of their October 20, 2019 auction in an online-only section of the auction.
The selection of property being offered in this online-only auction includes fine art works by Matisse, Robert Graham, John Altoon, Sam Francis, Ed Ruscha, Jonas Wood, Joe Goode, and Jeff Koons, with modern design items by Paul McCobb, George Nelson, and Frank Lloyd Wright.
As commerce increasingly moves online, LAMA hopes to encourage the next generation of collectors who wish to participate in the auction process by using new technologies that didn’t exist until very recently. For comparison, those who grew up bidding for items on eBay are familiar with the timed auction process.
All items in the online-only portion of the auction are featured in the printed auction catalogue, however, Clo Pazera, Fine Art Specialist at LAMA, foresees a future where printed auction catalogues have become obsolete:
“As more and more buyers opt for a paperless experience, either due to the ease of online access or a conscious decision to go green, the auction model will see a massive shift towards online sales.”
Since the introduction of LAMA’s online bidding application, the number of registered online bidders participating in the auction increased by 26% between March 2017 and May 2019, with the percentage of sales going to online bidders increasing from 9% to 17% by number of lots, and from 3% to 18% by value.
The bidding is now open for online-only lots and will close between 12:30 and 1:30pm, Sunday, October 20, 2019; the standard bidding lots will start at 12pm.
For more details or high resolution images, please contact Shannon@lamodern.com