Tag Archives: Peter Loughrey

Peter’s Auction Pick of the Day: October 13th

Josef & Anni Albers


Many people are aware of the Albers as husband and wife, teachers, and artists.  Josef’s most iconic works are his “homage to the square” images, which seem to have heralded the popular style of Hard Edge painting, which arrived decades later.  Anni, who is most known for her textiles, was also an accomplished print maker.  It seems today that the Albers’ graphic works are becoming very scarce.

 

In this auction we are offering a unique example of one of Josef Albers rarest graphic works.  Once more the optical illusion created in “Prefatio”  from 1942 (Lot 28, Estimated at $5,000-7,000) precedes the optical styles of Victor Vasarely, Bridget Riley, and other Op Artists by 25 years.  Notably, this example was a gift to James Prestini on the occasion of Prestini’s successful curated show on Albers work held at Texas Teachers College in 1942.

The work has been rolled in a tube and was only recently discovered.  It has been authenticated the by the Josef and Anni Albers Foundation and will be included as a unique variant in their catalogue raisonne.

Anni Albers print “Triadic Series D” (Lot 29, Estimated at $500-700) is also in outstanding fresh original condition and is being offered for the first time from the original owner who purchased it the year of its execution.

To view these two lots as well as the rest of the offerings in the October 17th Auction, please visit the LAMA online catalogue.

Lot Information:

28
Josef Albers
“Prefatio”
1942
Ink on graph paper
Signed and dated lower right; dedicated lower middle; titled lower left
Unique proof aside from the two known editions of 30 and 4
Sheet 17” x 22”
Catalogue Raisonne #103
October 17, 2010
$5,000-7,000

29
Anni Albers
“Triadic Series D”
1969
Lithograph
Signed and dated lower right; edition lower left #29 of 60
Image 17” x 15”; Framed 24.5” x 22.5”
October 17, 2010 Auction
$500-700

Interview with Peter Loughrey on YHBHS

After 50 auctions Peter has seen a lot.

Check out his interview on You Have Been Here Sometime.

Peter talks about the idea of collecting, his personal highlights at LAMA, as well as his picks for the current auction.

Peter’s Auction Picks of the Day: October 11th

Picasso and Los Angeles?

My pick for today is a selection of Picasso graphics, which all have a unique connection to Los Angeles.

Lot 340:  “Model Kneeling by a Window Viewing a Sculpture of Nude Figures and a Rearing Horse”, Lot 341: “Two Catalan Men”, and Lot 339 “Fleurs (for UCLA)”.

I have known about these prints for years, and the current owner has shown them to me on several occasions and I am now proud to be offering these important works as a highlight of our 50th auction.  What I like best about these examples is they were carefully stored in a flat file for their entire lives, which means the condition is superb, having never seen sunlight.

These two Picasso etchings were exhibited at LACMA in 1966 and illustrated in the landmark catalog of the exhibition; one of the most comprehensive exhibitions of Picasso’s graphic works to date.

In addition we are pleased to offer a lithograph by Picasso “Fleurs (for UCLA)”, which was created for another landmark show of the master’s work.  This is a rare lithograph created especially for Los Angeles’s own Frances & Sidney Brody, who coordinated the exhibition and enlisted Picasso’s cooperation.  Interestingly, the Brody’s own Picasso “Nude, Green Leaves and Bust”sold earlier this year for $106.5 million.

Lot Information:

339
Pablo Picasso
Fleurs (for UCLA)
1961
Color lithograph on Arches Published by the Art Council of UCLA Art Galleries Signed and numbered
#28 of 100
23” x 18”
Mourlot 351
October 17, 2010
$8,000-12,000

340
Pablo Picasso
Marie-Therese Agenouillee contemplant un groupe sculpte
(pl. 66 from Suite Volla rd)
1933
Etching
Signed in pencil lower right
From the edition of 300
Image 11.75” x 14.5”
Bloch 175
October 17, 2010 Auction
$8,000-9,000

341
Pablo Picasso Deux Buveurs Catalans (Two Drinkers)
1934
Etching
Signed lower right; titled lower left
From the edition of 300
Image 9.25” x 11.75”
Bloch 228
October 17, 2010 Auction
$7,000-9,000

LAMA, Hans Wegner, and The Mid-Century Modernist

Check out Peter’s interview on The Mid-Century Modernist! Expert commentary regarding the designs of Hans J. Wegner in the October 17, 2010 Modern Art & Design Auction.

 

Market Status: Time to Sell

Now that there is more time to consign (deadline is now August 12th), I asked Peter his thoughts on the current state of the market and recent consignments.

Peter Loughrey: So far the October 2010 Auction will include a large assortment of items in the $1,000 – 1,500 range, which will make for an exciting opportunity to buy.  Although the lower price range is almost full, we can still accept a few pieces in this range.

However, there is a strong market for high-end material in the $5,000 – $25,000 range, which is supported by motivated buyers at the upper end of the market, who have been using art as investment.  Many works of art in this price range are selling for as much or even higher than at the peak of the market in Spring 2008. In our last two auctions items in this price range have realized the strongest auction results in our 18-year history.

In the Los Angeles art market especially, top buyers feel the recession is over and are eager to buy quality works; however there is very little available to satisfy the demand.  If you regret not selling at the peak of the market, now is your second chance, don’t miss out again.

As for recent consignments, the past few days have been exciting for us. Three highlights include:

– Andy Warhol Campbell’s Soup screenprint

– David Hockney Swimming Pool lithograph

– Diego Giacometti Table

To take advantage of this market, please contact Peter, peter@lamodern, to submit images and/or descriptions of the material you wish to consign.

For further reading on the shift in the art market, check out this article by Kelly Crow from The Wall Street Journal, published August 4th.

How to Sell at Auction

What to expect when selling at auction according to LAMA’s Director Peter Loughrey:

Submitting Material for Possible Inclusion

Submitting your items is easy. A simple list will do, but sometimes we will need to see photographs. We can also simply make an appointment to come by and look at your items at your location. However, emailing a simple list or description gets the ball rolling.

Receiving the Auction Estimate

If you have an item we feel we can sell for you, we will then prepare a “pre-sale” auction estimate composed of a value range. Estimates in general have two purposes.   First, they are used to inform the seller.  Second, they are used to attract a potential buyer.  An aggressive or high estimate may make you, the seller, happy; but it may also turn off potential bidders.

I believe it is important for an auctioneer to give an estimate independently. A good auctioneer tends to have a confidence level on what he can achieve and he will give you an estimate he feels will best serve the item. Sometimes an aggressive estimate, but other times a conservative estimate is needed. Most auctioneers (LAMA included) base their estimates on relevant auction results; often the estimate is low in order to assure that bidders will become attracted to the work (it is not in anyone’s best interest to overestimate the work).   If the seller is satisfied with the estimate, then terms are usually negotiated based on, among other things, the value of the work.

Calculating Commission

The seller’s commission is based on, among other things, the value of the work. Most auction companies (LAMA included) will offer a lower commission on higher valued works. LAMA, however, charges a flat-fee, which includes services such as photography, cataloging, advertising, etc., and does not charge a commission if an item does not sell.

Last But Not Least

One important question to ask an auctioneer when selling at auction is, “Does this auction house own any of the other works in the auction?”. This is a subtle but important question to ask. If the auction house owns or has a financial interest in many works in the auction, there is a good chance that the auction company will be promoting those works instead of yours.

Gaetano Pesce Exhibition in the Press

Days after the opening of “Gaetano Pesce: Pieces of a Larger Puzzle” there has already been quite a bit of buzz surrounding the exhibit… Check out articles on: