Los Angeles Modern Auctions
 | |
| Auction house | |
| Industry | Fine Art & Design Auction House |
| Founded | January 01, 1992 |
| Founder | Peter Loughrey |
| Headquarters | Van Nuys, California |
| Owner | Peter & Shannon Loughrey |
| Website | www.lamodern.com |
Los Angeles Modern Auctions (LAMA) is the first auction house to specialize in 20th century modern design and fine art. Auctions are held three times a year in Van Nuys, CA and offer material ranging from fine art, furniture, lighting, sculpture, prints, photography, ceramics, to decorative arts.Notably, LAMA has carved a niche in the international market through milestone auctions dedicated to individual designers such as Charles and Ray Eames, Paul László, and R. M. Schindler.[1] Of late, LAMA has distinguished itself by achieving record prices for California artists such as Ed Ruscha, Jay DeFeo and Mike Kelley.
History: 1990s
After moving to Los Angeles in 1986, Peter Loughrey opened a vintage furniture gallery in 1989. Three years later, he founded Los Angeles Modern Auctions (LAMA) and the company's first auction occurred on October 10, 1992, featuring 150 lots. In 1993, Mr. Loughrey chose to close the gallery and moved to London in order to continue his education at Sotheby's Institute of Art. There he apprenticed in the Vintage Automobile Department and worked as a porter in the Sotheby's, London landmark Man Ray auction.
In 1995, Peter married Shannon Carragher and the two moved back to Los Angeles to re-open Los Angeles Modern Auctions. On May 18, 1996 Peter and Shannon conducted their first join auction at the Eric Owen Moss 'Samitaur' building in Culver City, California. Only 5 months later, on October 27, 1996 they held an additional auction at the Chait Gallery in Beverly Hills.
Known already for their expertise in the world of modernism and design, LAMA was chosen to liquidate the Silver Lake architectural offices of Richard Neutra. This same year, the auction house acquired more than 500 Eames leg splints from an army surplus, and distributed them via MoMA and MOCA gift stores.
1998 was a pivotal year for LAMA as it was featured in an article by Wendy Moonan in The New York Times. In her weekly article on antiques, Moonan stated: "The definition of antiques is changing daily, and, as usual, Los Angeles sets the trends."[2] Additionally, www.lamodern.com was launched on February 2nd of the same year, thereby increasing the visibility and accessibility of the company. To cap off an already important year, Peter was given the honor of interviewing Pierre Koenig for Echoes Magazine, an architect best known for his work on the famed Case Study Houses.
By 1999, LAMA was clearly an important player in the modern art and design markets. 'Modern Monthly' auctions were held, where the average lot was under $500. The goal of these auctions was to reach young collectors with accessible prices. This same year, LAMA was chosen by ARCO to liquidate the company's fine art corporate collection. This was the first major fine art commission for the auction house. However, the most exciting event of the year for LAMA was achieving a world record for Charles Eames & Eero Saarinen "Conversation" prototype, designed in 1941. The price realized for the piece was $129,000.
History: 2000 to 2010
The new millennium started off strong for Los Angeles Modern Auctions, as Peter Loughrey was named by Art & Auction in the "Power Issue", in the publication's annual survey of the art world's most powerful people. After achieving the record price for Eames in 1999, LAMA was given the opportunity to auction a selection of rare examples by the designer including "DCW" prototypes. These pieces were handmade by Eames and were from the collection of John and Marilyn Neuhart.
In 2002, Playboy Magazine chose LAMA to conduct the first ever auction of items from the magazine's archive. During the same year, LAMA organized the company's first auction dedicated to a single collection, that of Michael and Gabrielle Boyd. The success of the corporate and single owner sale further solidified LAMA's place as a powerful force in the modern art and design field.
Peter Loughrey signed on with Antiques Roadshow in 2003 to be an appraiser for the PBS show. This relationship has continued to today, as Peter continues to featured on program.
Two more world records were achieved at LAMA in 2004, when works by George Nakashima achieved prices over $100,000. To this day, Nakashima is a regular feature in LAMA auctions. This same year, ACME Gallery in Los Angeles asked Peter to co-curate, 'Gio Ponti: Furnished Settings & Figuration.' This show featured the work of the Italian designer, architect and artist who also continues to be a regular feature in LAMA sales. In 2005, ACME and Peter co-curated another show, "Dutch Design". On May 22, 2005 a series of pieces by Laszlo were featured in the LAMA auction, making it the largest and most comprehensive Laszlo commission to ever surface for sale at one time.
During the June 3, 2007 sale, LAMA established a new world record price for "Marilyn" (#28) by Andy Warhol, realizing $144,000. This great achievement was soon followed by the October 14 sale in which "Car Hood" by Judy Chicago realized $288,000.
In 2008, LAMA conducted its first house sale in which the entire contents of the Linda Sullivan collection were auctioned. This same year, LAMA was featured in Forbes' SOLD!. Also in 2008, Peter and Shannon chose to leave their West Hollywood location to move their current location in Van Nuys, California.
LAMA Auction Process
The auction process at Los Angeles Modern Auctions is similar to that of other auction houses. For those interested in consigning work to LAMA, there are a few simple steps:
1. Submit Material: Email or mail images and item descriptions of the works. Also, one can make an appointment to bring the works to the showroom if that is more convenient.
2. Receive Auction Estimate: Once the specialists review the items, they will establish an auction estimate based upon the current market value of the work. This estimate is free of charge.
3. Establish a Commission Structure: A commission is a flat percentage based on the total value of the consignment. This is an all-inclusive fee which includes all listing fees, advertising and promotional material.
World Records
Since the company's founding in 1992, LAMA has achieved several world records at auction for works of fine art and design.
| Sale Date | Artist | Title | Price Realized | Record |
|---|---|---|---|---|
| Oct. 2016 | Jay DeFeo | Apex | $281,250 | Any work by the artist at auction |
| Feb. 2016 | Mary Corse | Copper-Four Crosses | $100,000 | Any work by the artist at auction |
| Feb. 2016 | John Lautner | Floor Lamp | $43,750 | Any design at auction |
| Feb. 2016 | James Gill | Infinite Regress DNA | $22,500 | Any work by the artist at auction |
| Oct. 2014 | Ed Ruscha | Double Standard | $206,250 | Any print by the artist at auction |
| Oct. 2014 | Mike Kelley | Nazi War Cave #1 | $740,000 | Any work on paper by the artist at auction |
| Oct. 2014 | Robert Mapplethorpe | Self Portrait | $87,500 | New record for the edition |
| Oct. 2014 | Maria Pergay | Flying Carpet, daybed | $162,500 | New record for the design at auction |
| May 2010 | Francois-Xavier Lalanne | Singes Attentifs SI & SII | $199,062.50 | New record for 'Monkeys' at auction |
| June 2007 | Andy Warhol | Marilyn (#28) | $144,000 | New record for Marilyn series by Warhol |
| May 1999 | Charles Eames & Eero Saarinen | "Conversation" prototype
armchair |
$129,000 | New record for this design at auction |
Awards
The Printing Industries of America recognized LAMA in 2012 for its May 6, 2012 Modern Art & Design Auction catalog as the "Best Services Catalog".
Television
Peter Loughrey is a repeat appraiser on PBS's Antiques Roadshow. He is featured on the show as a specialist in modern art and design.
Publications
Peter is also a contributor to Julius Shulman, Modernism Rediscovered (Taschen 2007) and Case Study Houses (Taschen 2006).
Press
External links
References
- ↑ Connie Koenenn (October 1999), Thoroughly Modern Milieu, LA Times. Retrieved 01-21-2010.
- ↑ Moonan, Wendy (1998-10-16). "ANTIQUES". The New York Times. ISSN 0362-4331. Retrieved 2016-10-19.
- Loughrey, Peter (Spring 2010). Baby, Are You for Real?, Modern Magazine. Retrieved 04-13-2010
- Appraisals by Peter Loughrey, Antiques Roadshow. Retrieved 04-15-2010
- Forbes' SOLD!: LAMA clip, Ovation TV. Retrieved 05-25-2011
- YHBHS Interview, YHBHS. Retrieved 05-25-2011
- Heet, Erika (October 2010). LAMA's 50th, Dwell Magazine. Retrieved 05-25-2011