LAMA Auction Finds Something For Everyone
LOS ANGELES, CA –The prices for Los Angeles artists were as hot as the temperatures during Los Angeles Modern Auctions’ (LAMA) May 21, 2017 Modern Art & Design Auction. Despite an unexpected regional blackout occurring mid-auction, LAMA posted strong results for local artists and designers Claire Falkenstein, Mary Corse, and Beatrice Wood. Paintings by Abstract Expressionists Paul Jenkins, Edward Dugmore, and Emerson Woelffer as well as notable design pieces by Pablo Picasso, George Nakashima, and Alvin Lustig all demonstrated the strength of LAMA as a global marketplace for art and design. LAMA’s total auction sales for the May 21, 2017 Modern Art & Design Auction realized $2.2 million, with a sell through rate of 77% of offered lots.
Artist Claire Falkenstein took center stage with three lots during Sunday’s auction. Two works by Falkenstein came from the estate of Henry T. Hopkins, former Director of SFMoMA. A rare, early ceramic from 1939 realized $25,000, more than tripling the high estimate. Additionally, a painting from the ‘Moving Points’ series (c. 1960), also from the Hopkins estate, far exceeded the high estimate realizing $21,250. The third Falkenstein piece in the auction came from a different local collection and featured the iconic assemblage style for which Falkenstein is known, it also tripled the high estimate, realizing $36,250.
Untitled (from White Light Inner Band Series) (1999) by Light and Space artist Mary Corse, exceeded the high estimate realizing $62,500 on the auction block. This painting, which features glass microspheres giving the work an illuminated quality, was found in a local collection where it had resided since its original purchase in 1999. A monumental mural by Beatrice Wood, originally commissioned in 1967, realized $40,525 during the auction.
“Auctions in Los Angeles are fast becoming the preferred way to acquire vetted Art and Design on the secondary market,” states Peter Loughrey, Director of Modern Design and Fine Art at LAMA. “Sunday’s auction had a wild assortment of items from $60 to $110,000 and every price point in between. LAMA is a unique place where beginners can get a bargain and connoisseurs can get a masterpiece.”
Bold use of color by Abstract Expressionists yielded top results for artists Paul Jenkins, Edward Dugmore, and Emerson Woelffer. Phenomena Wind at the Foot of the Anvil (1975) by Paul Jenkins far exceeded the estimate realizing $75,000. A large painting by Edward Dugmore, Untitled (1960-G) (1960) also from the New York faction of Abstract Expressionists, realized $50,000. In a new partnership with the Estate of Emerson Woelffer and Otis College of Art and Design, LAMA sold several works by the artist to benefit the scholarship fund at Otis. Born To The Day by Woelffer more than doubled the high estimate to realize $18,750.
The design portion of the auction was highlighted by the sale of an Aztec vase with four faces by Pablo Picasso (1957). The Madoura vase realized $81,250 after intense bidding from local, national, and international collectors. A custom sliding door cabinet by master craftsman George Nakashima, which realized $56,250, was also hotly sought after. An iconiclounge chair by local designer Alvin Lustig more than doubled its pre-auction estimate to realize $13,750 on the auction block.
Even with the unprecedented regional power outage, dozens of dedicated collectors hotly contested other bidders in the room for the entire auction to bid. LAMA looks forward to the Fall 2017 Modern Art & Design Auction which will be the 25th Anniversary auction for the company, a true landmark.
Top Fine Art Lots:
George Rickey, Two Open Rectangles Diagonal Jointed Gyratory II (1997) (Lot 102, est. $120,000-$150,000) realized $112,500.
Alex Katz, Here’s to You (1962) (Lot 100, est. $80,000-$120,000) realized $106,250.
Paul Jenkins, Phenomena Wind at the Foot of the Anvil (1975) (Lot 184, est: $35,000-$45,000) realized $75,000.
Mary Corse, Untitled (from White Light Inner Band Series) (1999)(Lot 18, est: $40,000-$60,000) realized $62,500.
Edward Dunmore, Untitled (1960-G) (1960) (Lot 187, est: $40,000-$60,000) realized $50,000.
Top Design Lots:
Pablo Picasso, Aztec vase with four faces (1957) (Lot 129, est. $50,000-$70,000) realized $81,250.
George Nakashima, Quadruple sliding door cabinet (executed 1960) (Lot 231, est. $40,000-$60,000) realized $56,250.
Beatrice Wood, Untitled (Mural) (executed 1967) (Lot 257, est. $40,000-$60,000) realized $40,625.
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Prices Realized include 25% buyer’s premium on the first $500,000, then tiered after.
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 Modern and Contemporary Art & Design.
For more information and images, please contact Shannon Loughrey, Los Angeles Modern Auctions (LAMA), 16145 Hart St., Van Nuys, CA 91406
www.lamodern.com | tel: 323-904-1950 | fax: 323-904-1954 | e-mail: Shannon@lamodern.com