LOS ANGELES, CA.- Los Angeles Modern Auctions
set new world records for art and design in the May 6, 2012 Modern Art & Design Auction. Total sales realized $2.97 million, a new company sales record, selling 81% of the 502 lots by value.
The Le Corbusier tapestry, Bogota, 1950, (Lot 169 est. $40,000 60,000), set a new world auction record for the highest amount ever paid for a tapestry by the designer. Bidding from international and local buyers drove the final price to $131,250, further confirming LAMAs ability to achieve exceptional prices for works of international importance.
A rich selection of nine paintings from the Hard Edge School brought a total of $361,875. Frederick Hammersleys Figure of Speech, 1974-75, (Lot 139 est. $30,000 50,000), nearly doubled the previous auction record (also set by LAMA) bringing $87,500. Karl Benjamins, Yellow Landscape (1953), exceeded the pre-sale estimate, realizing $46,875.
Design highlights include a strong grouping of George Nakashima furniture, totaling $95,000. The standout of the group was a Nakashima couch (Lot 118 est. $6,000 9,000), going five times over the low estimate bringing $35,000. An exceptional selection of seven Greta Grossman designs totaled $70,000, with a pair of couches (Lot 32 est. $5,000 7,000) bringing $17,500, exceeding the pre-sale estimate.
An important Santa Barbara collection, consisting of over 100 lots, helped propel the sale to new highs. The collection of Hard Edge paintings, contemporary sculpture, and rare photographs brought a global audience, resulting in standing-room-only attendance, as well as a large number of registered bidders on the phones and on the Internet.
Le Corbusier Bogota,1950 (Lot 169 est. $40,000-60,000) set a new auction record realizing $131,250
George Rickey Tidal IV, 1962 (Lot 185 est. $100,000 150,000) brought $118,750
Frederick Hammersley Figure of Speech, 1974-75(Lot 139 est. $30,000 50,000)
set a new auction record for the artist $87,500
Roy Lichtenstein Thunderbolt, 1966 (Lot 240 est. $80,000 120,000) brought $87,500
Richard Pettibone Roy Lichtenstein. Tex. 1962. (Lot 235 est. $40,000 60,000) totaled $68,750
Karl Benjamin #14 (Lot 138 est. $30,000 50,000) fetched $58,750
Ann Hamilton Body/Object series (Lot 184 est. $20,000 30,000) realized $53,125
Karl Benjamin Yellow Landscape, 1953 (Lot 134 est. $25,000 35,000)
exceeded estimate bringing $46,875
Andy Warhol Liz, 1965(Lot 233 est. $25,000 35,000) realized $43,750
Peter Loughrey, Director of Modern & Contemporary Fine Art: LAMA has long been the premier auction house for Los Angeles artists and designers, however, Sundays auction demonstrated our capacity to obtain world records prices for international and East Coast artists as well. Once again, you dont have to send your art to New York, Paris, or London to get the best price.