LAMA BLOG

LAMA’s Spring Auction Soars, Ends Week of International Contemporary Art Auctions

May 20, 2014

For Immediate Release

May 20, 2014

LOS ANGELES, CA – In a week of record-breaking auctions in the modern and contemporary art world, Los Angeles’ premier auction house, Los Angeles Modern Auctions (LAMA) held the final sale of the spring season. LAMA’s May 18, 2014 Modern Art & Design auction achieved strong prices for blue-chip and California modern artists, commensurate with the New York and London sales. Sunday’s auction offered original works and multiples by Warhol, Picasso, Ruscha, and Wesselmann that exceeded pre-sale estimates, while a Hans Wegner desk and organizer set a new auction record for the model, with total auction sales realizing $2 million, selling 110% by value.

“After 22 years, LAMA continues to play a key role in the international modern and contemporary art scene,” states Peter Loughrey, director of LAMA. “Many of the same top buyers and sellers at the bigger auction houses are participating in our sales, the only difference is that LAMA represents material of a lower price point. With 200 people in the room alone and hundreds more on the phone and internet during Sunday’s auction, LAMA has staked out our part of the art world.”

Fine art highlights include Chanel by Andy Warhol from Ads portfolio, bringing $123,750, Tom Wesselmann’s Study for Smoker #26, which more than doubled its high estimate bringing $65,625, and an early and monumental Llyn Foulkes painting that exceeded its pre-sale estimate realizing $53,125. A rare Ed Ruscha print, Sin, soared to $28,125, and a John Altoon work on paper, Untitled (Sunset Series), brought $25,000.

Design highlights include a collection of custom William “Billy” Haines furnishings for an important Beverly Hills commission, which exceeded its pre-sale estimate of $146,300, totaling $241,312. The top lot from the commission was a rare table lamp with Tang style figure of a horse (Lot 181 est. $7,000 – 9,000) that realized $46,250. Additionally, LAMA continues to achieve exceptional prices for Scandinavian design, with the standout being a selection of seven Hans Wegner lots purchased by the original owner in 1966 from Johannes Hansen. A Wegner desk and organizer (Lot 63 est. $7,000 – 9,000) realized $50,000 and set a new auction record for the model, an Executive Swivel chair (Lot 65 est. $8,000 – 12,000) brought $27,500, and a Papa chair and ottoman (Lot 67 est. $6,000 – 8,000) achieved $18,750.

TOP LOTS:

  • Andy Warhol, Chanel (Ads portfolio) (Lot 163 est. $60,000 – 80,000)
    realized $123,750
  • Tom Wesselmann, Study for Smoker #26 (Lot 162 est. $20,000 – 30,000) realized $65,625
  • Harry Bertoia, Sonambient Sculpture (Lot 131 est. $50,000 – 70,000)
    brought $62,500
  • Sam Maloof, Rocking chair (Lot 306 est. $35,000 – 45,000) fetched $62,500
  • Llyn Foulkes, Within Ercha (Lot 271 est. $30,000 – 50,000) realized $53,125
  • Andy Warhol, Life Savers (Ads portfolio) (Lot 164 est. $30,000 – 50,000) realized $51,250
  • Hans Wegner, Desk and organizer (Lot 63 est. $7,000 – 9,000) realized $50,000, setting a new auction record for the model
  • William “Billy” Haines, Table Lamp with Tang Style Figure (Lot 181 est. $7,000 – 9,000) soared to $46,250
  • De Wain Valentine, Clear Grey Column (Lot 291 est. $25,000 – 35,000)|brought $38,750
  • Alan Davie, His Highness the Egg (Lot 221 est. $4,000 – 6,000)
    exceeded the pre-sale estimate bringing $32,500

 

Source for auction record data www.artnet.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. Auctions are held at the LAMA showroom: 16145 Hart St., Van Nuys, CA 91406. LAMA’s next auction of Modern Art & Design is scheduled for October 2014.

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