Yesterday the October 9th auction of The Collection of Richard Dorso had records, bargains, and everything in between.
The sale totaled nearly $1.54 million, more than doubling the pre-sale estimate of $657,000, with 100% of the 417 lots sold. LAMA set new auction records for De Wain Valentine and Roland Reiss, both of whom are currently featured in Pacific Standard Time exhibitions. And since this was a no reserve auction, smart buyers went home happy with treasures from every price category. Works with attractive estimates sold particularly well, encouraging buyers to join the bidding.
The top lot of the sale was the iconic John Baldessari 8th and D, National City, estimated at $80,000 – 120,000. After furious bidding it climbed to a staggering $293,750.
But that is not all. Other works that far exceeded pre-auction estimates were the John Baldessari Sleep While You Grow Rich, which was estimated at $80,000 – 120,000, and realized $187,500; also Richard Tuttle’s Untitled from Letters (the Twenty-Six Series) estimated at $15,000 – 20,000, realized $59,375. In addition, two Bob Thompson paintings, were the sleeper hits of the show–each estimated at $4,000 – 6,000, together totaled $75,000.
- De Wain Valentine Circle (est. $3,000 – 5,000) set a new auction record for the artist bringing $32,500
- Roland Reiss The Dancing Lessons: The Reconciliation of Yes and No (est. $4,000 – 6,000) set a new auction record for the artist, bringing $15,000
- The Kees van Dongen Le Coquelicot, estimated at $600 – 900 sold for a whopping $13,750
- The Adolf Gottlieb Hieroglyph, from a very small edition of 15, estimated at $600 – 900, brought $9,375
- Jon Friel Untitled pop-art gem estimated at $500 – 700, achieved $4,687.50
- Gifford Myer’s text-based conceptual piece Do Not Touch Works of Art estimated at $500 – 700, fetched $4,687.50
Fresh, original works with strong provenance and low estimates brought a global audience, resulting in record-breaking attendance in the room, on the phones and on the Internet. Buyers were drawn to this collection, even in this economy, proving freshness leads to desirability.
Peter Loughrey, Director:
“The records set by the Dorso Collection show us the beauty of how auctions work today. Small companies now have the ability to reach top collectors in many specialty fields. This proves you don’t have to sell Modern Art in New York to obtain the top price.”