LAMA Realizes Highest Grossing Auction to Date

LAMA is happy to announce that our December 11, 2011 Important Modern Art & Design auction set new records for the company. Not only did we have our highest grossing sale at $2.88 million, LAMA also had the highest registered attendance in our history. In addition, LAMA set auction records for:

Isamu Noguchi’s Chess Table (Lot 280) was estimated at $30,000 – 50,000 and went on to realize $187,500–nearly five times its high estimate.

Robert Rauschenberg’s Sling Shots Lit #6 (Lot 60 est. $30,000 – 50,000) realized $68,750, the highest price ever achieved for any work in this series by the artist. As a bonus, since the work was sold to a local collector, it will remain in Los Angeles.

With so much quality material on the market, LAMA was able to curate a particularly outstanding collection of works by the iconic modern artists and designers for whom LAMA is best known, which in turn yielded these auction highlights:

  • John Chamberlain Untitled, 1962 (Lot 194 est. $150,000-200,000) brought $275,000
  • Gertrud & Otto Natzler Monumental Vase (Lot 257 est. $100,000 – 150,000) fetched $93,750
  • Dale Chihuly Gilded Opal and Deep Garnet Chandelier (Lot 120 est. $40,000 – 60,000) brought $84,375
  • A rare Jean Prouve “Antony” chair (Lot 111 est. $15,000 – 20,000) exceeded the estimate and brought $47,500
  • Charles & Ray Eames Custom dowel leg coffee table (Lot 268 est. $20,000 – 30,000) realized $32,500
  • Pablo Picasso Little Bust of Woman (Lot 112 est. $18,000 – 25,000) totaled $28,750
  • Tim Hawkinson Untitled (Double Flags) (Lot 201 est. $6,000 – 8,000) realized $25,000

Works by local artists such as Ed Ruscha, John Baldessari, and Julius Shulman also found strong prices, most of which exceeded their pre-sale estimates:

  • Ed Ruscha’s Carp with Fly (Lot 164 est. $9,000 – 12,000), which realized $15,000
  • John Baldessari’s Stonehenge (Lot 65 est. 6,000 – 8,000) went above estimate bringing $12,500
  • Julius Shulman’s Case Study House #22, (Lot 133 est. $3,000 – 5,000), saw fierce competition and brought $11,875.

Museum quality pieces have enabled LAMA to expand from its traditional base of individual buyers. We are now able to attract interest from institutions and public collections as well, creating strong competition for stellar examples of design, including:

  • Herbert von Thaden Highback chair (Lot 285 est. $5,000 – 7,000) realized $15,000
  • The “Partio” from the estate of Dwight D. Eisenhower (Lot 351 est. $5,000 – 7,000) reached $20,000
  • La Gardo Tackett pair of planters (Lot 137 est. $3,000 – 5,000) went beyond estimate bringing $14,375
  • Gaetano Pesce Sansone I table (Lot 237 est. $30,000 – 50,000) brought $37,500
  • Shiro Kuramata Glass armchair (Lot 248 est. $30,000 – 50,000) fetched $37,500

You too can be part of the LAMA auction experience. Contact Shannon Loughrey, shannon@lamodern.com, for a free, confidential market evaluation of your works to be included in the upcoming spring 2012 auction.

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