Bonhams' Made in California art sale breaks four world records


2015-06-26 13:13:25


Bonhams' Made in California art sale breaks four world records

Bonhams' Made in California: Contemporary Art auction realised $1.3m

Bonhams' April 2 auction in Los Angeles, entitled Made in California: Contemporary Art, proved highly successful, with four newartist records set.

Hassel Smith auction record'My paintings are intended to be additions to rather than reflections of or upon life' - Hassel Smith

The auction realised a total of $1.3m, with 90% of lots sold. New records were set for works by Ronald Davis, Ed Moses, Hassel Smith and Jack Zajac.

The most resounding success of the sale was Hassel Smith's Untitled Yellow, a 1960 oil on canvas that achieved an auction record for the artist of $53,790, a 115.1% increase on its $25,000 high estimate.

Following closely behind with another artist record was Ed Moses' 1957 Untitled, a widely admired piece from the early stage ofhis career. It sold for $50,000.

Ronald Davis auction recordVee Wave (pictured) was one of two Ronald Davis works that sold well

Ronald Davis' work also fared particularly well, with the auction record for his work set by a cel-vinyl and dry pigment on canvas work entitled Vee Wave, which sold 133.3% above its $15,000 high estimate at $35,000. Another Davis work in the same medium sold for $23,750 - a 97.9% increase on the $12,000 valuation.

Finally, Jack Zajac's bronze sculpture Ram Skull with Broken Horn IV brought the fourth artist record of the auction, realising $20,000 - up 185.7% on estimate.

A record price for a bronze sculpture by Nathan Oliveira at auction was also achieved, with his Figure Three selling within estimate at $62,500.

2013 has seen the art market looking towards emerging contemporary artists as a new place to invest; Christie's First Open sale, held on March 8 in New York, achieved a record total for an auction of its kind. Bonhams' auction of the Laverty Collection also set a new record for a contemporary art sale in Australia.

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