Sale: 545 / Evening Sale, Dec. 08. 2023 in Munich Lot 64


64
Laura Owens
Untitled, 1995.
Oil and acrylic on canvas
Post auction sale: € 120,000 / $ 126,000
+
Untitled. 1995.
Oil and acrylic on canvas.
Signed on the reverse of the folded canvas. 305 x 244 cm (120 x 96 in).

• At the age of 29, Laura Owens was awarded the renowned Baloise Art Prize at Art Basel.
• Shortly afterwards, she had solo shows at the Gardner Museum Boston and the Museum of Contemporary Art Los Angeles.
• Numerous solo exhibitions at international museums followed, most recently: Cleveland Museum of Art, Dallas Museum of Art, Museum of Contemporary Art Los Angeles and Whitney Museum of American Art New York.
• Her works are in major public collections like the Art Institute of Chicago, Center Georges Pompidou Paris, Metropolitan Museum of Art New York, Museum of Modern Art New York and Tate Modern London.
• The highly acclaimed early work is extremely rare on the international auction market.
• Represented by Gisela Capitain, Cologne
.

PROVENANCE: Rosamund Felsen Gallery, Los Angeles,
Private collection North Rhine-Westphalia (acquired from Phillips de Pruy, New York, 2005).

EXHIBITION: Rosamund Felsen Gallery, Santa Monica, 1995 (with a label on the reverse)
Painting Invitational, Regen Projects, Los Angeles (CA), February 25 - March 28, 1995.

LITERATURE: Phillips de Pury, New York, May 13, 2005, sale NY 01024, lot 1303.

Laura Owens is one of the most important contemporary artists in the USA. Born in Ohio and living in Los Angeles, she is deeply concerned with the questions of space in the image and the image in space. In this beautiful early work, the form of expression of space determines the image. A diverse 'open space' opens up. On the one hand, the space depicted seems confined; as if looking into a room. A yellow space opens up, defined by non-existent perspective boundaries. Only a few randomly placed objects define the idea of space. A playful red something made of circles in the upper left, in the top right corner there is a staircase-like structure. It is not clear what these things represent. At the bottom, the contour line of the green area defines the space, it has a blotchy red coin showing a female head on it, finally, a black circle in the yellow area in right appears like a hole. The green area could be a floor, but it could also be a spacethat is open at its bottom.

Laura Owens began her training on the US East Coast at the Rhode Island School of Design, where she received a very well-founded classical education. However, questions of contemporary art were not discussed; she describes her teachers as largely influenced by the Bauhaus. As a counterpoint and extension, she then moved to the California Institute of Arts in Valencia/Los Angeles, where she focused on Minimal and Conceptual Art. It is important to her to find a way to abstraction through her formal practice that creates an emotional and psychological connection.

Her themes are highly complex. Laura Owens makes an approach through examining space; to this days, she has continued to develop this topic in many different ways. The pastel tones of a girlish palette place this discussion in an airy, weightless setting. The paintings appear friendly, despite the fundamental question they address. Our painting was made at the beginning of the development. Her work received great recognition in the USA from early on. In 2003, she exhibited at the Museum of Contemporary Art, Los Angeles (CA), in 2006 at the Kunsthalle Zurich, and in 2007 at the Bonnefanten Museum, Maastricht, to name just a few. Most recently, in 2021, the Cleveland Museum of Art, Cleveland (OH), dedicated the solo exhibition “Laura Owens: Rerun” to the artist. [EH]



64
Laura Owens
Untitled, 1995.
Oil and acrylic on canvas
Post auction sale: € 120,000 / $ 126,000
+


Buyer's premium, taxation and resale right compensation for Laura Owens "Untitled"
This lot can be purchased subject to differential or regular taxation, artist‘s resale right compensation is due.

Differential taxation:
Hammer price up to 800,000 €: herefrom 32 % premium.
The share of the hammer price exceeding 800,000 € is subject to a premium of 27 % and is added to the premium of the share of the hammer price up to 800,000 €.
The share of the hammer price exceeding 4,000,000 € is subject to a premium of 22 % and is added to the premium of the share of the hammer price up to 4,000,000 €.
The buyer's premium contains VAT, however, it is not shown.

Regular taxation:
Hammer price up to 800,000 €: herefrom 27 % premium.
The share of the hammer price exceeding 800,000 € is subject to a premium of 21% and is added to the premium of the share of the hammer price up to 800,000 €.
The share of the hammer price exceeding 4,000,000 € is subject to a premium of 15% and is added to the premium of the share of the hammer price up to 4,000,000 €.
The statutory VAT of currently 19 % is levied to the sum of hammer price and premium. As an exception, the reduced VAT of 7 % is added for printed books.

We kindly ask you to notify us before invoicing if you wish to be subject to regular taxation.

Calculation of artist‘s resale right compensation:
For works by living artists, or by artists who died less than 70 years ago, a artist‘s resale right compensation is levied in accordance with Section 26 UrhG:
4 % of hammer price from 400.00 euros up to 50,000 euros,
another 3 % of the hammer price from 50,000.01 to 200,000 euros,
another 1 % for the part of the sales proceeds from 200,000.01 to 350,000 euros,
another 0.5 % for the part of the sale proceeds from 350,000.01 to 500,000 euros and
another 0.25 % of the hammer price over 500,000 euros.
The maximum total of the resale right fee is EUR 12,500.

The artist‘s resale right compensation is VAT-exempt.