LOS ANGELES, CA.-
In a week of record-breaking auctions in the modern and contemporary art world, Los Angeles premier auction house, Los Angeles Modern Auctions
held the final sale of the spring season. LAMAs May 18, 2014 Modern Art & Design auction achieved strong prices for blue-chip and California modern artists, commensurate with the New York and London sales. Sundays auction offered original works and multiples by Warhol, Picasso, Ruscha, and Wesselmann that exceeded pre-sale estimates, while a Hans Wegner desk and organizer set a new auction record for the model, with total auction sales realizing $2 million, selling 110% by value.
After 22 years, LAMA continues to play a key role in the international modern and contemporary art scene, states Peter Loughrey, director of LAMA. Many of the same top buyers and sellers at the bigger auction houses are participating in our sales, the only difference is that LAMA represents material of a lower price point. With 200 people in the room alone and hundreds more on the phone and internet during Sundays auction, LAMA has staked out our part of the art world.
Fine art highlights include Chanel by Andy Warhol from Ads portfolio, bringing $123,750, Tom Wesselmanns Study for Smoker #26, which more than doubled its high estimate bringing $65,625, and an early and monumental Llyn Foulkes painting that exceeded its pre-sale estimate realizing $53,125. A rare Ed Ruscha print, Sin, soared to $28,125, and a John Altoon work on paper, Untitled (Sunset Series), brought $25,000.
Design highlights include a collection of custom William Billy Haines furnishings for an important Beverly Hills commission, which exceeded its pre-sale estimate of $146,300, totaling $241,312. The top lot from the commission was a rare table lamp with Tang style figure of a horse (Lot 181 est. $7,000 9,000) that realized $46,250. Additionally, LAMA continues to achieve exceptional prices for Scandinavian design, with the standout being a selection of seven Hans Wegner lots purchased by the original owner in 1966 from Johannes Hansen. A Wegner desk and organizer (Lot 63 est. $7,000 9,000) realized $50,000 and set a new auction record for the model, an Executive Swivel chair (Lot 65 est. $8,000 12,000) brought $27,500, and a Papa chair and ottoman (Lot 67 est. $6,000 8,000) achieved $18,750.
Andy Warhol, Chanel (Ads portfolio) (Lot 163 est. $60,000 80,000) realized $123,750
Tom Wesselmann, Study for Smoker #26 (Lot 162 est. $20,000 30,000) realized $65,625
Harry Bertoia, Sonambient Sculpture (Lot 131 est. $50,000 70,000) brought $62,500
Sam Maloof, Rocking chair (Lot 306 est. $35,000 45,000) fetched $62,500
Llyn Foulkes, Within Ercha (Lot 271 est. $30,000 50,000) realized $53,125
Andy Warhol, Life Savers (Ads portfolio) (Lot 164 est. $30,000 50,000) realized $51,250
Hans Wegner, Desk and organizer (Lot 63 est. $7,000 9,000) realized $50,000, setting a new auction record for the model
William Billy Haines, Table Lamp with Tang Style Figure
(Lot 181 est. $7,000 9,000) soared to $46,250
De Wain Valentine, Clear Grey Column (Lot 291 est. $25,000 35,000) brought $38,750
Alan Davie, His Highness the Egg (Lot 221 est. $4,000 6,000) exceeded pre-sale estimate bringing $32,500