LOS ANGELES, CA.- Los Angeles Modern Auctions
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.
We are building upon what we first innovated two decades ago, says Peter Loughrey, director of LAMA, and that is finding great material from West Coast collections and connecting buyers and sellers in the modern and contemporary art world internationally. With nearly 300 bidders in the room alone, we are the undisputed center of this market.
Ruth Asawas complex hanging sculpture, Untitled S.437 (Lot 236 est. $300,000 500,000), more than doubled its high estimate, soaring to $1.43 million, effectively tying the world auction record and setting a new company record for a single work. Original works by top-tier artists brought the strongest prices, including Vija Celmins Untitled (Ham Hock) (Lot 210 est. $400,000 600,000) that achieved $531,250, a large-scale John McLaughlin painting (Lot 38 est. $180,000 250,000) that brought $212,500, and Alexander Calders The Black Arrow (Lot 136 est. $40,000 60,000) that realized $106,250.
A selection of 60 designs by George Nakashima from the Edmund J. Bennett collection together brought $469,875, going over its total estimate of $372,800. Highlights from the collection include a set of 12 Conoid chairs (Lot 260 est. $60,000 80,000) that realized $68,750, a hanging wall case (Lot 245 est. $20,000 30,000) that achieved $65,625, a Frenchmans Cove II dining table and extension (Lot 261 est. $40,000 60,000) that totaled $43,750, and a table lamp (Lot 247 est. $8,000 10,000) that reached $15,000.
Fine art highlights include a selection of Hard Edge paintings by Karl Benjamin, Lorser Feitelson, John McLaughlin, Frederick Hammersley, and June Harwood, which together brought $443,750. Joe Goodes Untitled (1969) realized $68,750, and a painting by Sam Gilliam, Live (1972), went seven times over the high estimate bringing $56,250. Additionally, prints and multiples saw strong prices, including Flowers (1970) by Andy Warhol that realized $35,625, and Jeff Koons Balloon Dog (Red) (1995) that achieved $20,000.
Additional design highlights include a Sam Maloof dining table and eight chairs that reached $81,250 and a rare rosewood rocking chair that brought $61,250. European designs also excelled, including a Frits Henningsen Highback armchair that fetched $50,000 and a pair of Gio Ponti lounge chairs that realized $45,000.
Ruth Asawa, Untitled S.437 (1956) (Lot 236 est. $300,000 500,000) effectively tied the world auction record and set a new company record for a single work at $1.43 million
Vija Celmins, Untitled (Ham Hock) (1964) (Lot 210 est. $400,000 600,000) achieved $531,250
John McLaughlin, #11-1962 (1962) (Lot 38 est. $180,000 250,000) realized $212,500
Alexander Calder, The Black Arrow (1969) (Lot 136 est. $40,000 60,000) brought $106,250
Sam Maloof, Dining table and chairs (1968-69) (Lot 293 est. $50,000 70,000) totaled $81,250
Joe Goode, Untitled (1969) (Lot 221 est. $40,000 60,000) fetched $68,750
George Nakashima, Set of 12 Conoid chairs (1978, 1984) (Lot 260 est. $60,000 80,000) realized $68,750
George Nakashima, Hanging wall case with free edge (1963) (Lot 245 est. $20,000 30,000) achieved $65,625
Lorser Feitelson, Untitled (1964) (Lot 39 est. $50,000 70,000) realized $62,500
Sam Maloof, Rosewood rocking chair (1982) (Lot 291 est. $30,000 50,000) totaled $61,250