Los Angeles Modern Auctions (LAMA) is the first auction house to specialize in 20th century Modern art and design. Founded by Peter Loughrey in 1992, LAMA especially champions Modern and Contemporary works by California and West Coast artists and designers.
Auctions are held three times a year in Van Nuys, California, and feature a wide range of material including painting, photography, prints, sculpture, ceramics, furniture, jewelry, and lighting. Since LAMA's first auction on October 10, 1992, the boutique auction house has carved a niche in the international market with milestone auctions dedicated to individual designers Charles and Ray Eames, Paul Laszlo, and R.M. Schindler, among others. LAMA has set dozens of world auction records, including many for works by California artists and designers such as Peter Alexander, Ruth Asawa, Larry Bell, Chris Burden, Jay DeFeo, Lorser Feitelson, Mike Kelley, Vasa Mihich, Ken Price, Ed Ruscha, and De Wain Valentine.
History
1990s
In October 1989, Peter Loughrey opened vintage furniture gallery Bedrock on La Brea Boulevard. Three years later, Loughrey founded Los Angeles Modern Auctions (LAMA) and hosted the company's first auction on October 10, 1992. The inaugural auction featured 136 lots of Modern design, including works by Harry Bertoia, Charles and Ray Eames, Frank Gehry, Frank Lloyd Wright, Ludwig Mies van der Rohe, Peter Max, Isamu Noguchi, and Ettore Sottsass.
In 1993, Loughrey closed his gallery and landed in London to earn a degree in contemporary works of art through the Sotheby's Institute of Art. As a student, he apprenticed in the Vintage Automobile Department and worked as a porter in the landmark Man Ray auction at Sotheby's, London.
In 1995, Loughrey married Shannon Carragher and, together, they re-opened Los Angeles Modern Auctions. The Loughreys conducted their first joint auction at the Eric Owen Moss 'Samitaur' building in Culver City, California, on May 18, 1996. Their following auction was held five months later on October 27, 1996, at the IM Chait Gallery in Beverly Hills.
Having built a reputation for expertise in the field of Modernist design, LAMA was chosen to liquidate the Silver Lake architectural offices of Richard Neutra. The auction house also acquired more than 500 Eames leg splints from an army surplus, which they sold at the gift shops at the Museum of Modern Art in New York and the Museum of Contemporary Art in Los Angeles.
1998 was a pivotal year for LAMA. It was featured in Wendy Moonan's New York Times article on the antiques market, in which she stated, "The definition of antiques is changing daily, and, as usual, Los Angeles sets the trends." In February of that year, LAMA launched its website, bringing broader visibility to the company. To cap off an already important year, Peter Loughrey was invited by Echoes Magazine to interview Pierre Koenig, the architect best known for his work on the famed Case Study Houses.
By 1999, LAMA had established itself as an important player in the Modern art and design markets. “Modern Monthly” auctions were held with the average lot selling for less than $500 in a bid to reach young collectors through accessible prices. LAMA was commissioned by ARCO (Atlantic Ritchfield Corporation) to liquidate the company's corporate fine art collection — the first major fine art commission for the auction house. The same year, LAMA achieved a world record for any design by Charles Eames when the “Conversation” prototype, a 1941 collaboration with Eero Saarinen, realized $129,000.
2000 to 2010
After achieving the world record for an Eames design in 1999, LAMA was given the opportunity was chosen by John & Marilyn Neuhart to auction works from their private collection in July 2000 – the first ever single-owner auction dedicated to the works of Charles and Ray Eames. On offer were custom designs, sculptures, photographs, drawings, and ephemera by the Eameses curated by the Neuharts, who worked in the Eames Office and authored Eames Design: The Work of the Office of Charles and Ray Eames. Also included was a selection of rare examples by the designer including "DCW" prototypes – many of which are in permanent collections in public institutions.
Acknowledging LAMA's swift ascent, Loughrey was included that year in Art & Auctions Power Issue.