LAMA BLOG

50 Auctions Later, LAMA and Modern Design & Fine Art are Still Going Strong

October 21, 2010

Van Nuys, California – Los Angeles Modern Auctions (LAMA) October 17, 2010 Modern Art & Design auction, LAMA’s 50th auction since 1992, totaled $1.6 million (including buyer’s premium) selling 69% of the 509 lots offered.

Over 250 people registered for the auction, including in-house participants who filled the gallery to standing room only. Several buyers came from Italy, Japan, France, as well as an overwhelming amount of clients from California and New York.

The auction brought together an assortment of high quality 20th century modern fine art, furniture, design, and decorative objects, many of which never traded hands until Sunday. A large number of offerings were from original owners and estates, which caused bidding action to increase dramatically.

Buyers were happy with the prices for furniture, which is still selling for below the highs of 2008, while consignors came away better selling art, which has made up most of the losses since the same period.

  • Lot 310, Andy Warhol “Mao”, $36,750 (est. $35,000 – 40,000)
  • Lot 6, Roy Lichtenstein “The Living Room”, $36,750 (est. $30,000 – 50,000)
  • Lot 210, Diego Rivera “Stone Cutter”, $36,750 (est. $30,000 – 40,000)
  • Lot 1, David Hockney Swimming Pool, $30,625 (est. $25,000 – 30,000)
  • Lot 307, Andy Warhol “Flowers”, $33,075 (est. $25,000 – 35,000)
  • Lot 279, Thomas Hart Benton “Mining Village”, $23,275 (est. $15,000 – 18,000)
  • Lot 8, Roy Lichtenstein “Brushstroke”, $18,375 (est. $8,000 – 10,000)

Other Highlights:

  • Lot 93, William “Billy” Haines Lanai Couch, $25,725 (est. $20,000 – 30,000)
  • Lot 410, Alberto Giacometti Bronze Lamp, $27,562 (est. $8,000 – 10,000)
  • Lot 426, Otto & Gertrud Natzler Ceramic Bowl, $39,812 (est. $15,000 – 25,000)
  • Lot 332, Pablo Picasso “Woman with Flowery Hat” $22,662 (est. $12,000 – 15,000)

Peter Loughrey, Director of LAMA:

“Once again there are large numbers of bidders who are active in the antique and art world. Consumer confidence in this sector is high, which has made for a more stable marketplace.”

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