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Hammersely's "Home run" among several new world auction records set at LAMA
Cy Twombly, Note II (1967), (Lot 125, Est: $60,000-90,000). Realized: $112,500.

LOS ANGELES, CA.- Los Angeles Modern Auctions set a new world auction record for a painting by Frederick Hammersley on Sunday, February 25, 2018, after the artist’s 1967-68 oil on canvas, aptly named “Home run,” soared to sell for $200,000.

The continued popularity of Hammersley and his peers from the California Hard Edge school of abstract painters reveals that the market appeal has broadened to an international following. The top three bidders on “Home run” were all from outside California. The new record is exactly double the previous world auction record of $100,000, which had been set in 2015 (also at LAMA). As interest in California painters continues to attract worldwide attention, LAMA is quickly becoming the center of attention for these artists.

Peter Loughrey, founder of LAMA, states "we have always maintained that local sellers don't need to send their art to New York auctions anymore, but the smartest sellers in the world are now sending art to the California market.

Other records set at the auction were for prints and multiples. “Cheese Mold Standard with Olive” by Ed Ruscha, a screenprint from a 1969 edition of 150 sold for $106,250, which beat the old record of $87,500 set at Doyle’s auction in New York only 10 months ago. Two other Ruscha works, the etching “Jumping Fish” and screenprint “Main Street” also sold for more than ever before at auction.

The 1967 etching, “Note II,” by Cy Twombly brought a new auction record of $112,500, beating the previous high for the series of $81,250 at Christie’s in 2015.

Ad Reinhardt’s “Ten Screenprints by Ad Reinhardt,” a portfolio originally published by the Wadsworth Atheneum in 1966, set a new auction record of $23,750, besting the previous top price of $16,250 at Sotheby’s in 2014.

Roy Lichtenstein’s 1980 woodcut “American Indian Theme III” took the top recorded spot of $22,500 from Christie’s 2016 price of $20,000 for another example from the same series.

The entire auction was 78% sold by lot and 135% by presale estimated value. The total amount sold was $2.7 million.

Top Lots:

• Frederick Hammersley, Home run (1967-68), (Lot 169, Est: $50,000-70,000). Realized: $200,000

• Ed Ruscha, Cheese Mold Standard with Olive (1969), (Lot 46, Est: $50,000-70,000). Realized: $106,250

• Cy Twombly, Note II (1967), (Lot 125, Est: $60,000-90,000). Realized: $112,500

• Ad Reinhardt, Ten Screenprints by Ad Reinhardt (1966), (Lot 154, Est: $5,000-7,000). Realized: $23,750

• Roy Lichtenstein, American Indian Theme III (1980), (Lot 202, Est: $10,000-15,000). Realized: $22,500

As proven leaders in modern and contemporary California art and design, LAMA’s next auction will be held in the June 2018 auction.

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