LAMA BLOG

Light and Space Takes Off; California Commands Market

October 13, 2015

For Immediate Release                                                

October 13, 2015

LOS ANGELES, CA – The auction house that brought you Mid-Century Modern, The Cool School, Hard Edge, and International Style is now at the forefront of the Light and Space movement. On Sunday, Los Angeles Modern Auctions (LAMA) set two new world auction records for artists Mary Corse and June Harwood; additional auction records were set for works by Ed Ruscha and De Wain Valentine. The top lot was a rare resin work by Light and Space artist John McCracken, which skyrocketed three times over the pre-sale estimate to $275,000. Another work by McCracken soared 15 times over the pre-sale estimate to $237,500. The top six lots in the auction totaled over $1 million. LAMA’s total auction sales for the October 11, 2015 Modern Art & Design auction realized $4.1 million, selling 122% of the 477 lots by value.

John McCracken, Five Paintings III, 1974
Estimate: $90,000–120,000
Realized: $275,000
October 11, 2015 Modern Art & Design Auction at LAMA

 

“Since 1992, LAMA’s mission has been to represent the best of what is available on the market – our dedication to the Light and Space artists is now paying off,” states Peter Loughrey, Director of Modern Design & Fine Art. “Whether it’s Pop or Cool School, blue-chip or emerging, many artists who got their start in California are now appealing to the global contemporary art market.”

 

John McCracken, Painting #6, 1973
Estimate: $15,000–20,000
Realized: $237,500
October 11, 2015 Modern Art & Design Auction at LAMA

 

Five Paintings III (1974), a highly anticipated resin work by John McCracken, hit the auction market for the first time on Sunday carrying a pre-sale estimate of $90,000–120,000. After vigorous bidding from local, national, and international collectors, the work realized $275,000. The following lot, John McCracken’s Painting #6 (1973), estimated at $15,000–20,000, went far above the estimate to $237,500. A Mary Corse prismatic painting realized $87,500, setting a new auction record for the artist, breaking the previous world auction record also set by LAMA. De Wain Valentine’s Disk Purple (1968) went three times over its pre-sale estimate realizing $37,500 and setting a record for this type of composition.

 

Ken Price, Up Back, 2000
Estimate: $150,000–200,000
Realized: $168,750
October 11, 2015 Modern Art & Design Auction at LAMA

 

As a dedicated champion of California artists, LAMA is especially proud to have established new world auction records for Southern California modernists: June Harwood’s Untitled (from the Sliver Series) (1963) realized $45,000, exceeding the previous world auction record, also set by LAMA in May 2015. Ed Ruscha’s Made in California (1971) realized $52,500 and Sin (1970) realized $31,250, both records for these prints at auction; and an architectural rending of the Linn Residence by Richard Neutra realized $20,000, a record for a drawing by the architect.

 

Ed Ruscha, Hollywood, 1968
Estimate: $75,000–100,000
Realized: $137,500
October 11, 2015 Modern Art & Design Auction at LAMA

 

Works by blue-chip veterans also soared past estimates including ceramics by Pablo Picasso, multiples by Andy Warhol, Frank Stella, and Jeff Koons, as well as paintings by Richard Pettibone and Man Ray.

Design highlights include: a pair of George Nakashima Free-edge armchairs brought $35,000; a Fernando & Humberto Campana Cake Stool realized $22,500; an Ico Parisi console table brought $22,500; a Dan Johnson Gazelle chair realized $13,750; and an Edward Wormley La Gondola sofa tripled pre-sale estimates realizing $18,750.

De Wain Valentine, Disk Purple, 1968
Estimate: $10,000–15,000
Realized: $37,500, a record for this type of composition
October 11, 2015 Modern Art & Design Auction at LAMA

TOP LOTS:

  • John McCracken, Five Paintings III (1974), (Lot 155, est. $90,000–120,000) realized $275,000
  • John McCracken, Painting #6 (1973), (Lot 156, est. $15,000–20,000) brought $237,500
  • Ken Price, Up Back (2000), (Lot 176, est. $150,000–200,000) realized $168,750
  • Joe Goode, Glass and Spoon (Tickled Pink) (1966-1967), (Lot 137, est. $100,000–150,000)
    fetched $156,250
  • Ed Ruscha, Hollywood (1968), (Lot 215, est. $75,000–100,000) realized $137,500
  • Mary Corse, White Light Painting (1990), (Lot 160, est. $50,000–70,000) realized $87,500
  • Pablo Picasso, Aztec Vase with Four Faces (1957), (Lot 3, est. $50,000–70,000) totaled $81,250
  • Frederick Hammersley, Opposing (#15, 1959), (Lot 332, est. $50,000–70,000) brought $75,000
  • Charles Arnoldi, Untitled (1970), (Lot 197, est. $20,000¬–30,000) realized $53,125
  • Ed Ruscha, Made in California (1971), (Lot 221, est. $20,000–30,000) brought $52,500

 

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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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. LAMA’s next auction of Modern Art & Design is scheduled for February 21, 2016.

-END-

For more information and images, please contact Shannon Loughrey, Los Angeles Modern Auctions (LAMA), 16145 Hart St., Van Nuys, CA www.lamodern.com | tel: 323-904-1950 | fax: 323-904-1954 | e-mail: Shannon@lamodern.com

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