LAMA BLOG

LAMA: Maker of Markets

March 3, 2015

LOS ANGELES, CA – Los Angeles Modern Auctions (LAMA) set new world records for works by De Wain Valentine, Frederick Hammersley, Mary Corse, and Peter Alexander in its March 1, 2015 Modern Art & Design Auction. LAMA, champion of California artists, remains at the forefront of the Modern and Contemporary Fine Art and Design auction market as made evident with total auction sales realizing $4.1 million, selling 142% of the 445 lots by value.

De Wain Valentine’s Blue Slab (1970) (Lot 49, est. $30,000–50,000), set a new world auction record for the Light and Space artist at $175,000, more than double the previous world auction record, also set by LAMA. The Valentine market has risen dramatically since 2011, when a Valentine work hit the auction market for the first time at LAMA. Frederick Hammersley’s Adjective (1966) (Lot 309, est. $60,000–90,000) brought $100,000, a new world auction record for the artist–exceeding his past eight top prices, all set by LAMA. Peter Alexander’s Green Sphere (Box) (1967), Lot 12, reached $53,125; setting a world auction record for the artist, which was broken again by the very next lot. Alexander’s Wedge with Puff (1968), Lot 13, now holds the world auction record at $68,750. In addition, a Mary Corse painting from 2000 realized $81,250, setting a world auction record for the artist.


Los Angeles Modern Auctions (LAMA) March 1, 2015 Modern Art & Design Auction
Ruth Asawa Untitled, S.750, Karl Benjamin #32,
De Wain Valentine Blue Slab, Frederick Hammersley Adjective, Billy Al Bengston John

Lot 202, a highly anticipated early, monumental sculpture by Harry Bertoia hit the auction market for the first time on Sunday, carrying a pre-sale estimate of $250,000–350,000. After vigorous bidding from local, national, and international collectors, the sculpture realized $550,000.

Los Angeles Modern Auctions (LAMA) March 1, 2015 Modern Art & Design Auction
Harry Bertoia, Untitled (1961), realized $550,000

 

“It has always been LAMA’s mission to build and foster the market for artists with a California connection. After 22 years, LAMA continues to play a key role in the demand for contemporary art and design on the open market,” states Peter Loughrey, director of LAMA. “Our ability to source quality material is what drives the market.”

 

Los Angeles Modern Auctions (LAMA) March 1, 2015 Modern Art & Design Auction

 

Additional fine art highlights include: Ruth Asawa’s Untitled, S.750 (Hanging Open Form with Four Fluted Edges) (c. 1960s) sculpture which realized $93,750; Pablo Picasso’s glazed ceramic, Face in Profile (1953), reached $93,750; a relief by Robert Graham from 1989 fetched $68,750; John Baldessari’s photographic suite National City Portfolio (1996) brought $62,500; and a diptych by Roger Brown, Just Around the Corner (Part I & Part II) (1975), realized $56,250.

Design highlights include: a Fernando & Humberto Campana Pandas chair which realized $53,125; a pair of Alfred Porteneuve armchairs brought $46,250; Tejo Remy’s d.1991 You Can’t Lay Down Your Memory realized $23,750; a Sam Maloof armchair brought $22,500; and a Finn Juhl NV-45 armchair realized $20,000.

TOP LOTS:

  • Harry Bertoia, Untitled (1961), (Lot 202, est. $250,000–350,000) soared past its pre-sale estimate, realizing $550,000
  • De Wain Valentine, Blue Slab (1970), (Lot 49, est. $30,000–50,000) realized $175,000, which more than doubled the previous world auction record for the artist (also set by LAMA)
  • Frederick Hammersley, Adjective (1966), (Lot 309, est. $60,000–90,000) brought $100,000, exceeding the previous world auction record for the artist (also set by LAMA)
  • Ruth Asawa, Untitled, S.750 (Hanging Open Form with Four Fluted Edges) (c. 1960s), (Lot 98, est. $40,000–60,000) fetched $93,750
  • Pablo Picasso, Face in Profile glazed ceramic (1953),
    (Lot 149, est. $18,000–25,000) realized $93,750
  • Mary Corse, Untitled (White, Black, Blue Double Arch) (2000), (Lot 95, est. $30,000–50,000) realized $81,250, setting a world auction record for the artist
  • Massimo Campigli, Untitled (Figures) (1960), (Lot 139, est. $40,000–60,000)
    realized $71,875
  • Peter Alexander, Wedge with Puff (1968), (Lot 13, est. $7,000–9,000) brought $68,750, setting a world auction record for the artist
  • Robert Graham, Untitled (Duke Ellington) V (1989), (Lot 55, est. $20,000–30,000) exceeded the pre-sale estimate, bringing $68,750
  • John Baldessari, National City Portfolio (1996), (Lot 59, est. $40,000–60,000)
    totaled $62,500

 

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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