Fifty Auctions Later, Los Angeles Modern Auctions is Still Going Strong, Sale Totals $1.55 Million

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VAN NUYS, CA.- Los Angeles Modern Auctions (LAMA) October 17, 2010 Modern Art & Design auction, LAMA’s 50th auction since 1992, totaled $1.55 million (including buyer’s premium) selling 65% of the 509 lots offered. Over 250 people registered for the auction, including in-house participants who filled the gallery to standing room only. Several buyers came from Italy, Japan, France, as well as an overwhelming amount of clients from California and New York. The auction brought together an assortment of high quality 20th century modern fine art, furniture, design, and decorative objects, many of which never traded hands until Sunday. A large number of offerings were from original owners and estates, which caused bidding action to increase dramatically. Buyers were happy with the prices for furniture, which is still selling for below the highs of 2008, while