Los Angeles Modern Auctions was first founded in 1992 by Peter Loughrey, during which time was the only auction house to specialize in design pieces of the 20th century. What began as a small auction house, has now grown through the past decades as a unique part of the Los Angeles community. From casual buyers who look to furnish a home, to the devoted collector in search for another masterpiece to color their walls, LAMA has made sure to be the place where any individual could find exactly what they were looking for. Hosting three auctions throughout the year, Los Angeles Modern Auctions feature decorative items, brilliant compositions and even beautiful estates that are scattered throughout sunny California.
LAMA’s most recent auction coincided with its 25th birthday celebration, where iconic and timeless pieces were listed for sale to the highest bidder. The October 22nd event experienced record participation in the auction where buyers could bid through telephone, LAMA’s own app and, of course, from the live audience.
American Pop Artist, Roy Lichtenstein, had his 1965 screenprint, Reverie (from 11 Pop Artists Portfolio, Vol. II), included in the impressive list of pieces for sale that day. The estimated value was listed as $60,000-$90,000, but sold at $175,000.
Many others also exceeded their own estimated prices as well, including works by Paul Klee, Gunther Gerzso, Marcel Duchamp, Nathan Oliveira, and Ed Ruscha. Realized prices doubled and even tripled their pre-auction estimates during the event. In total, the Modern Art & Design Auction made an impressive $4 million in sales last month.
Mexican Modernist, Gunther Gerzo, created a plethora of abstract compositions throughout the 20th century. His oil on canvas, Blue Square, was estimated between $50,000 – $70,000 went on to realize at $137,500.
Nathan Oliveira’s piece showcases elegance in simplicity in this untitled work known only as Standing Figure #1. Warm and vibrant pigments cover the canvas piece with heavy brush strokes. This particular lot was estimated between $30,000 – $50,000 and realized at $131,000.
A remarkable pitcher crafted by the historic Spanish painter, Pablo Picasso, realized at $28,000. The ceramic piece titled, Bearded Man’s Wife, features cooler shades designed using engobes and bears knife engraving.
Peter Loughrey, Founder, and Director of LAMA says, “This auction was an ideal representation of what LAMA has accomplished over 25 years of curating successful auctions. The auction had highlights that recalled design and art icons from our past such as Eames chairs and Ruscha graphics, as well as modern masters LAMA has never auctioned before, such as Paul Klee, Marcel Duchamp, and Joaquim Tenreiro.” He adds “The Los Angeles Modern Auctions brand is still expanding after a quarter century, and these results prove we get the full attention of the art world without the Manhattan address.”
Destination Luxury and the Los Angeles community look forward to witnessing many more successful events as LAMA continues to further blossom as an auction house.