The First Art Newspaper on the Net Established in 1996 United States Tuesday, October 21, 2014


Los Angeles Modern Auctions' 20th anniversary season totals over $5 million
Peter Loughrey, Founder of LAMA: “My first auction in 1992 totaled $99,000. Twenty years later our fall season brought over $5 million. In the past twenty years we have seen record breakers, bargains, and everything in between, establishing a niche marketplace that champions Modern Art & Design. Moving forward, we anticipate continued growth in crossover segments where art and design meet, like the Noguchi Chess table and the Calder brooch. LAMA is quickly becoming the industry leader for creating the market for this type of material.”
LOS ANGELES, CA.- Los Angeles Modern Auctions' 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.

Peter Loughrey, Founder of LAMA: “My first auction in 1992 totaled $99,000. Twenty years later our fall season brought over $5 million. In the past twenty years we have seen record breakers, bargains, and everything in between, establishing a niche marketplace that champions Modern Art & Design. Moving forward, we anticipate continued growth in crossover segments where art and design meet, like the Noguchi Chess table and the Calder brooch. LAMA is quickly becoming the industry leader for creating the market for this type of material.”

The highlight lot in the 20th Anniversary auction [Part Two], a rare Isamu Noguchi Chess table (Lot 285 est. $150,000 – 250,000) with strong exhibition history and provenance, brought significant attention and realized $187,500. Additionally, an impressive selection of ten works by Robert Rauschenberg, including Lattice (Hoarfrost), Samarkand Stitches #III, and Box Cars, together achieved $141,375. Additional Fine Art highlights include a David Park gouache on paper from 1960, Figure Playing Violin (Lot 21 est. $18,000 – 25,000), which went three times over the estimate bringing $62,500; a group of eight lots by Andy Warhol, including Truman Capote, Mick Jagger, Jane Fonda, and Vote McGovern, totaling $166,688; and brooches by Alexander Calder (Lot 281 est. $25,000 – 35,000) and Jean Arp (Lot 280 est. $20,000 – 30,000) together realized $67,500.

Design highlights include an exceptional selection of 15 lots of Arts & Crafts sold by the Los Angeles County Museum of Art to benefit future acquisitions, totaling $100,294 with 100% sell-through rate. Highlights from this group include a L. & J.G. Stickley Prairie settee (Lot 126 est. $8,000 – 12,000) bringing $30,000 (more than three times the pre-sale estimate), a rare double-door bookcase by Harvey Ellis (Lot 120 est. $12,000 – 15,000) bringing $18,750, and a rare inlaid armchair by Harvey Ellis (Lot 112 est. $10,000 – 15,000) achieving $17,500. Additional Arts & Crafts highlights that went above pre-sale estimates include a Joseph Maria Olbrich teapot, going three times over its pre-sale estimate, and a Elizabeth Eaton Burton Shell lamp, setting a new world auction record for the designer, bringing $20,000. Also, a strong grouping of Art Deco designs brought $158,319. Highlights from this group include a Gilbert Rohde chest (Lot 325 est. $4,000 – 6,000) going seven times over the estimate bringing $28,125, a rare armchair by K.E.M. Weber (Lot 271 est. $18,000 – 20,000) achieving $22,500, and a Boris Lacroix Tea set (Lot 259 est. $20,000 – 30,000) realizing $25,000.

TOP LOTS:
• Isamu Noguchi, Chess table (Lot 285 est. $150,000 – 250,000) realized $187,500

• Robert Rauschenberg, Lattice (Hoarfrost), (Lot 102 est. $70,000 – 90,000) brought $87,500

• David Park, Figure Playing Violin (Lot 21 est. $18,000 – 25,000) soared above estimate realizing $62,500

• Andy Warhol, Mick Jagger (Lot 139 est. $10,000 – 20,000) totaled $46,875

• Karl Benjamin, #6 (Lot 246 est. $35,000 – 45,000) fetched $43,750

• Alexander Calder, Brooch (Lot 281 est. $25,000 – 35,000) brought $37,500

• Andy Warhol, Truman Capote (Lot 137 est. $20,000 – 30,000) realized $31,250

• L. & J.G. Stickley Prairie settee (Lot 126 est. $8,000 – 12,000) exceeded estimate, bringing $30,000

• Jean Arp, Brooch (Lot 280 est. $20,000 – 30,000) realized $30,000





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