LAMA Posts Strong Results with May 19, 2019 Auction
Los Angeles Modern Auctions (LAMA) returned to their roots with an auction on May 19, 2019 split almost evenly between fine art and design, proving that the supply of well-maintained vintage design has not yet dried up. Top lots included works by Keith Haring, De Wain Valentine, Yaacov Agam, and Joe Goode, as well as impressive results for Scandinavian design by Hans J. Wegner and Poul Kjaerholm, and rare decorative arts pieces by Gio Ponti and David Cressey.
“As LAMA evolves, we will continue to excel with well-established names like Haring, Warhol, and Eames, and push to be on the forefront as artists go through a period of market re-evaluation, or begin to establish themselves on the secondary market,” says Clo Pazera, Fine Art Specialist at LAMA. “Each season brings new discoveries for our clients and for us.”
Crossing the block were unique pieces by Keith Haring and De Wain Valentine. Haring’s monumental 1984 work, Untitled, which was executed on the street and signed by the artist in 1989, realized $262,500 against a presale estimate of $150,000-200,000. A rare acrylic sculpture by De Wain Valentine, Untitled (Ring) (c. 1972), doubled its high estimate, realizing $100,000.
Other top fine art lots included a three-dimensional painting by Yaacov Agam, Magic Rain (1972-1974), which was exhibited in 1976 at the Palm Springs Desert Museum (now Palm Springs Art Museum), that far exceeded its presale estimate to achieve $137,500. Another top lot, which was sold to benefit UCLA Health, was a standout 1978 painting by Cool School artist Joe Goode, which realized $78,125.
Two sets of Hans Wegner “The” chairs achieved top prices, realizing $13,750 for a set of six, and $43,750 for a set of 10. A leather three-seat sofa by Poul Kjaerholm achieved $10,625, and other spectacular Kjaerholm pieces included a small side table and rare dining table for E. Kold Christensen.
Decorative arts highlights included a Gio Ponti vase designed in the 1930s for the porcelain manufacturer Richard-Ginori, which achieved $13,750, and a much sought-after sculptural work by David Cressey for Architectural Pottery hit $9,375.