October 12, 2016
Los Angeles Modern Auctions (LAMA) is delighted by the success of the October 9 Modern Art & Design Auction. The auction was defined by a number of outstanding moments. With an estimate of $150,000 – 200,000, Lot 137 Ed Ruscha’s “Canyon Heights Becomes Laurel Canyon” far exceeded expectations, selling for $468,750. Most significantly, perhaps, LAMA set a new world auction record for a work by Bay area artist Jay DeFeo. Lot 227 Apex, an oil painting made in 1987, was estimated at $80,000-120,000 and went on to realize a phenomenal $281,250 on the day. Total auction sales for the Modern Art & Design Auction totaled $3.9 million, selling 94% of the 431 lots by value.
February 24, 2016
On Sunday, LAMA set a new company record, selling a single work for the highest price in the company’s 23-year history; Richard Prince’s Bedtime Story (1988) from the seminal Monochromatic Jokes paintings series realized $1.585 million. LAMA additionally set world auction records for artists and designers Mary Corse, Fred Eversley, John Lautner, James Gill, Steve Roden, and Joe Brainard. LAMA realized $5 million in total auction sales on February 21, selling 116% of the 419 lots by value. “Record-setting prices have convinced some important collectors to act locally instead of sending works to New York, which used to be the norm,” stated Peter Loughrey, Director of Modern Design & Fine Art. “The Richard Prince sale underscores our growing strength in the field of contemporary art and demonstrates LAMA’s ability to offer West Coast collectors expanded opportunities to buy and sell.”
May 20, 2015
The house was buzzing at the May 17 auction when Los Angeles Modern Auctions (LAMA) realized prices identical to New York auction house results for similar works by Alexander Calder, Andy Warhol, and Pablo Picasso. 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.
“We are continuing to show the marketplace that sellers no longer have to ship their modern art to New York to get the highest price,” states Peter Loughrey, director of LAMA. “Whether it’s $1,000 or $1,000,000, sellers can get the same price in Los Angeles.”
March 4, 2015
At the March 1 Auction, LAMA set new world records for works by De Wain Valentine, Frederick Hammersley, Mary Corse, and Peter Alexander. LAMA remains at the forefront of the Modern and Contemporary Fine Art and Design auction market as made evident with total auction sales realizing $4.1 million, selling 142% of the 445 lots by value.The crowd was alive and bidding Sunday at Los Angeles Modern Auctions’ March 1, 2015 Modern Art & Design Auction. The house buzzed as visitors wandered amongst the lots, visited the Artsy computer kiosks, all while placing bids and watching the live action. At a frenzied pace bidders participated on the phone, or bid online, or raised their paddles in person.
November 4, 2014
This year was once again a period of new records and strong prices for Los Angeles Modern Auctions: in 2014, LAMA’s yearly sale total increased by 58.8% from 2013. The year got off to an exuberant start with the sale of an exemplary crocheted wire sculpture from important American sculptor Ruth Asawa—which soared nearly 5 times over its estimate to $1.43 million, effectively tying the world auction record for any work by the artist. Los Angeles artists Mike Kelley and Ed Ruscha both set world auction records for works on paper and prints, respectively. In design highlights, Maria Pergay’s iconic stainless steel Flying Carpet daybed set a new world auction record for that model. Other top lots include works by Vija Celmins, John McLaughlin, Alberto Giacometti, Sam Maloof, and George Nakashima. We are excited to continue the journey as we are now accepting material for 2015!
May 22, 2014
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.
February 25, 2014
Los Angeles Modern Auctions (LAMA) achieved the highest sale total in company history, realizing $5.12 million including commissions, with a sell-through rate of 86% of the 386 lots offered in the February 23, 2014 Modern Art & Design auction. A Ruth Asawa hanging sculpture soared to $1.43 million, marking a new record for the highest price ever achieved for a single lot in the company’s 22-year history and effectively tying the world auction record for the artist.
December 18, 2012
Los Angeles Modern Auctions’ (LAMA) 20th Anniversary season grossed over $5 million, the highest total in LAMA’s 20-year history. On Sunday, Part Two of LAMA’s 20th Anniversary Auction brought $2,044,381 with 79% of the 435 lots sold by value. In addition, LAMA sold 100% of the lots offered by two of the top consignors of the sale, the Los Angeles County Museum of Art and Cedars-Sinai Medical Center.