March 4, 2016
We like to think of LAMA’s February auctions as bellwethers for the auction season ahead. LAMA’s February auction was the most successful in company history, realizing $5.3 million and setting five world auction records. On the heels of this success, Peter Loughrey, Director of Modern Design & Fine Art, shares his perspective on the current state of the market and offers his advice on what to sell now at LAMA.
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.”
February 17, 2016
Learn what Richard Prince’s Bedtime Story has in common with the work of artists as various as Andy Warhol, John McLaughlin, and Donald Judd in today’s Peter’s Auction Pick. “To my mind, one of the hallmarks of a great work of art is that it resonates with associations and allusions. By that measure, Bedtime Story—the cover lot in our February 21st Auction of modern art and design—is a tour de force.”