Los Angeles Modern Auctions Sets Records with the Richard Dorso Collection

Los Angeles Modern Auctions’ single-owner auction of The Collection of Richard Dorso held on October 9, 2011 set new auction records for De Wain Valentine, Roland Reiss, and Craig Kauffman (all of whom are currently featured in Pacific Standard Time exhibitions). The sale totaled $1,536,000, more than doubling the pre-sale estimate of $657,000, with 100% of the 417 lots sold.

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 of LAMA:“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.”

Original paintings and sculpture by top-tier artists brought the highest prices in the auction.

Top lots include:
· John Baldessari 8th and D, National City (Lot 160 est. $80,000 – 120,000) more than doubled the high estimate realizing $293,750

· John Baldessari Sleep While You Grow Rich (Lot 161 est. $80,000 – 120,000) realized $187,500

· Richard Tuttle Untitled from Letters (the Twenty-Six Series) (Lot 218 est. $15,000 – 20,000) went beyond the high estimate realizing $59,375

· Gustav Klimt Nude Study (Lot 139 est. $20,000 – 30,000) sold for $46,875

· Two strong works by Bob Thompson Mythological Scene andVenus & Adonis (Lots 49 and 50 each est. $4,000 – 6,000) together totaled $75,000

· De Wain Valentine Circle (Lot 220 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 (Lot 78 est. $4,000 – 6,000) set a new auction record for the artist bringing $15,000

· Craig Kauffman Boyant Shapes (Lot 209 est. $3,000 – 5,000) set a new auction record for a painting by the artist realizing $4,687.50

LAMA also far exceeded estimates for a number of rare prints and multiples.
Top lots include:

· Roy Lichtenstein Shipboard Girl (Lot 223 est. $15,000 – 20,000) brought $36,250

· Roy Lichtenstein Sunrise (Lot 224 est. $4,000 – 6,000) realized $21,250

· Bridget Riley Untitled (Fragment 7) (Lot 170 est. $5,000 -7,000) achieved $18,750

· Claes Oldenburg Geometric Mouse – Scale C (Lot 256 est. $8,000 -12,000) totaled $18,750

· Kees van Dongen Le Coquelicot (Lot 117 est. $600 – 900) outperformed the estimate reaching $13,750

· Ellsworth Kelly Green (Lot 21 est. $2,000– 3,000) realized $10,625

*Prices Realized include 25% buyer’s premium.

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