May 17, 2015

MODERN ART & DESIGN AUCTION

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MODERN ART & DESIGN AUCTION
May 17, 2015

Los Angeles Modern Auctions (LAMA) achieved prices identical to New York auction house results for similar works by Alexander Calder, Andy Warhol, and Pablo Picasso in its May 17, 2015 Modern Art & Design Auction. The top lot was an impressive standing mobile by Alexander Calder that brought $826,250. Additionally, LAMA broke three world auction records for California artists (previously set by LAMA), proving it is the maker of markets as made evident with total auction sales for Sunday’s auction realizing $3 million, selling 119% of the 310 lots by value.

Quatre Blancs (1976), a highly anticipated standing mobile by Alexander Calder, hit the auction market for the first time on Sunday carrying a pre-sale estimate of $500,000–700,000. After vigorous bidding from local, national, and international collectors, the sculpture realized $826,250–a price on par with Calder standing mobiles that sold at New York auctions just days before. Andy Warhol’s $ (1973) realized $43,750 and a Pablo Picasso Bull turned pitcher (1955) realized $68,750–matching results previously achieved in New York for works in the same edition.

 

As a dedicated champion of California artists, LAMA established three new world auction records for Southern California modernists: June Harwood’s Untitled (from the Sliver Series) (1964) (Lot 200, est. $5,000–7,000), realized $33,750, exceeding the previous world auction record, also set by LAMA in February 2014; Oskar Fischinger’s Space Abstraction (1966) (Lot 139, est. $4,000–6,000) brought $17,500, exceeding the previous world auction record also set by LAMA in October 2012; and Vasa’s Group of four towers (1976) (Lot 63, est. $8,000–10,000), reached $37,500, nearly doubling the previous world auction record for the artist set by LAMA in March 2011.

Additional fine art highlights include: a complete Campbell’s Soup I portfolio by Andy Warhol that sold for $481,250; Andy Warhol’s Mao (1973), which sold for $50,000; a drawing by Raymond Pettibon from 1986 fetched $22,500; and a work on paper by Ed Moses from 1990 realized $11,250.

Design highlights include: a Sam Maloof rocking chair, which realized $42,500; a prototype Tony Duquette screen brought $37,500; a “Non Stop” sofa (1972) from Swiss design team Berger, Pedduzi-Riva & Ulrich realized $23,750; and a Jean Prouvé school desk fetched $11,875.

BID AND FOLLOW ON THE LAMA APP