Sotheby's auction to raise $10 million for MOCA
An upcoming Sotheby's auction could raise up to $10 million in support of the Los Angeles Museum of Contemporary Art.
The company's Spring Contemporary Art sales in New York will include 35 works donated by artists including Mark Bradford, Mark Grotjahn, Jeff Koons, Barbara Kruger and Ed Ruscha, with the proceeds set to benefit MOCA’s endowment.
“This auction is not only important for MOCA’s fiscal health and for the continued growth of our endowment but, and I think more significantly, it is an incredible vote of confidence from the artists’ community,” said MOCA board co-chair Maurice Marciano. “The outpouring of support and immense generosity we are seeing is humbling and lets us know that we have their trust. You can’t assign a value to that.”
Amongst the highlights will be Mark Grotjahn’s 2011 painting 'Untitled (Into and Behind the Green Eyes of the Tiger Monkey Face 43.18)', estimated at $2-$3 million; the 2013 Jeff Koons sculpture 'Gazing Ball (Centaur and Lapith)', estimated at $1.8-$2.5 million; and Ed Ruscha’s 2014 work 'Goods and Services', estimated at $600,000-$800,000.
“We are honored to help MOCA build their endowment and realize their vision for the future," added Lisa Dennison, Chairman of Sotheby’s North & South America. "The superb group of works featured in our May auctions boasts examples by the most exciting and desirable artists of our time – from the leading California artists of this generation to important international figures.” The Sotheby’s Evening and Day Sales of Contemporary Art take place on May 12 & 13.
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