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.”
LAMA Director Peter Loughrey discusses a work by Alex Katz, which goes to auction on February 21:
“There are some artworks that I pause to look at time and time again during the weeks they are kept in our office. One of these lately has been Here’s to You, a 1962 portrait by Alex Katz.” Peter explains this work’s je ne sais quois and more in today’s Peter’s Pick!
The upcoming May 18, 2014 Modern Art & Design Auction features a selection of more than 15 works by famed photojournalists such as André Kertész and Henri Cartier-Bresson to contemporary photographers including Bianca Brunner, Alvin Booth, and Jörg Herold. Additional highlights include two works by Brett Weston (Lot 352) (Lot 353), large-scale digital pigment prints by Chuck Close (Lot 363) and Robert Longo (Lot 364), and four works by Ai Weiwei (Lot 366) (Lot 367) (Lot 368) (Lot 369).