Los Angeles Modern Art Auctions' (LAMA) first sale presented with Rago/Wright saw very strong results and established new records for works of both art and design. The auction began with remarks by LAMA's Shannon Loughrey, who ceremoniously turned over the gavel to Richard Wright. Together, Wright and partners David Rago and Suzanne Perrault commanded the block, driving an Art + Design sale total of $2,974,908, with 153% selling by value and 87% by lots offered.
The sale's headlining T.H. Robsjohn-Gibbings Mesa table smashed the previous Wright-held record when it realized $362,500, far surpassing its high estimate of $150,000. Ed Ruscha's Made in California tied the world auction record at $100,000, and all Ruscha prints on offer established new records for their respective editions.
Roy Lichtenstein's Brushstroke III, another high-profile lot, garnered $212,500, exceeding its high estimate of $180,000. Among the works that tripled or quadrupled their high estimate were a Jeff Koons Balloon Dog (Blue), Ed Moses's architectural panel from Rebecca's restaurant, tapestries created after Alexander Calder and Niki de Saint Phalle, and the 1973 Sam Francis lithograph Dark Blue Cup (SF-141A). Many lots fetched more than double their high estimate, including works from Nathan Mabry, Raymond Pettibon, Richard Pettibone, Ken Price, Amy Sillman, and Toshiko Takaezu.
"The response and enthusiasm from the art and design community on this first auction together with our new partners went beyond my expectations," said Shannon Loughrey, "I am looking forward to continue to build on the success of this auction with the Rago/Wright/LAMA team."