MODERN ART & DESIGN AUCTION
March 1, 2015
Los Angeles Modern Auctions (LAMA) set new world records for works by De Wain Valentine, Frederick Hammersley, Mary Corse, and Peter Alexander in its March 1, 2015 Modern Art & Design Auction. LAMA, champion of California artists, remains at the forefront of the Modern and Contemporary Fine Art and Design auction market as made evident with total auction sales realizing $4.1 million, selling 142% of the 445 lots by value.
De Wain Valentine’s Blue Slab (1970) (Lot 49, est. $30,000–50,000), set a new world auction record for the Light and Space artist at $175,000, more than double the previous world auction record, also set by LAMA. The Valentine market has risen dramatically since 2011, when a Valentine work hit the auction market for the first time at LAMA. Frederick Hammersley’s Adjective (1966) (Lot 309, est. $60,000–90,000) brought $100,000, a new world auction record for the artist–exceeding his past eight top prices, all set by LAMA. Peter Alexander’s Green Sphere (Box) (1967), Lot 12, reached $53,125; setting a world auction record for the artist, which was broken again by the very next lot. Alexander’s Wedge with Puff (1968), Lot 13, now holds the world auction record at $68,750. In addition, a Mary Corse painting from 2000 realized $81,250, setting a world auction record for the artist.
Lot 202, a highly anticipated early, monumental sculpture by Harry Bertoia hit the auction market for the first time on Sunday, carrying a pre-sale estimate of $250,000–350,000. After vigorous bidding from local, national, and international collectors, the sculpture realized $550,000.
Additional fine art highlights include: Ruth Asawa’s Untitled, S.750 (Hanging Open Form with Four Fluted Edges) (c. 1960s) sculpture which realized $93,750; Pablo Picasso’s glazed ceramic,Face in Profile (1953), reached $93,750; a relief by Robert Graham from 1989 fetched $68,750; John Baldessari’s photographic suite National City Portfolio (1996) brought $62,500; and a diptych by Roger Brown, Just Around the Corner (Part I & Part II) (1975), realized $56,250.
Design highlights include: a Fernando & Humberto Campana Pandas chair which realized $53,125; a pair of Alfred Porteneuve armchairs brought $46,250; Tejo Remy’s d.1991 You Can’t Lay Down Your Memory realized $23,750; a Sam Maloof armchair brought $22,500; and a Finn Juhl NV-45 armchair realized $20,000.