Peter Loughrey is the founder of LA Modern Auctions, and an expert in the field of 20th century design. He’s written numerous articles, and has been voted one of the 50 most powerful dealers in Art & Auctions “Power Issue” for both 2000 and 2001.
Advice on Starting a Collection
People often feel they should start a collection based on a “theme” and that’s a mistake. Don’t narrow your collection down right away. If you like ceramics, start collecting a wide-range of pieces you like. Then after 20 or 30 pieces you might see a theme develop without you even trying. Learn as much as possible about the pieces you’re collecting. Read books, do research on the internet. When you have enough knowledge about what you collecting and what it’s worth, you can go to auctions, swap meets, thrift stores and dealers. Don’t be a snob about where you go to investigate. You have to go everywhere and keep your eyes open at all times for deals.
When I started out in the 1980s I went into a store in New York called Fifty/50. It had the reputation of being one of the most expensive retail stores that you could possibly find. I went in out of curiousity – I wanted to see this great environment full of wonderful things by famous designers. As I looked around I saw something with a price on it, and thought, I know someone who wants this and I think I can sell it for more. So I used the store’s phone and called my friend in Los Angeles. I described the set of chairs and asked if he would pay $2,000 for it. He said yes, so I bought them.
The lesson learned was that you can find a deal anywhere. Opportunities are everywhere. You just have to keep your eyes open – even in the most expensive shops. The reason is that no one can be an expert on everything, and though they may know a piece is good quality, they may not be fully aware of its importance in a specific collector’s circle.
What Started your Interest in Mid-Century Modern?
I grew up in a family of antique collectors. Growing up I thought antiques were expensive because of the craftsmanship and work that went into decorating it.
On a trip to Los Angeles I was brought to a shop that sold mid-century modern and I was blown away that there was no carving or elements of ornamentation – some were even made by machine – yet they were still valuable. It was that revelation that piqued my interest.
Value assessed on a piece by market standards and not simply because something is worked on by a master craftsman for a month changed my way of thinking. I became really enticed by these pieces devoid of ornamentation but with a higher level of thinking. It was more interesting to me to see a piece pared down to its basic essentials, shape or color instead of the idea of more is more. That was my introduction to modern design.
“Less is More” is a phrase coined by Mies van der Rohe but sometimes even that can be brought to its illogical end. Less is minimal design that has chairs, furniture and ceramics that are so minimal as to have no interest at all. I like pieces with a reductionist value – taking away the decoration, ornamentation and structure that isn’t needed, but not so far as to the point that you’ve got something that isn’t interesting any more. I like the fine line between over ornamentation and under ornamentation.
Favorite Piece
I’ve had many, many favorite pieces. It’s a constantly changing thing. Right now my favourite work is by Gio Ponti. He was a really great renaissance man of Italy in the 20th century. He work spanned from the 1920s until his death in 1979. During this period of production he went through several distinct styles. His middle period when he was going over the top and adding ornamentation back on to his pieces when everyone else in the world was in a reductionist phase and taking it away.
Peter’s Top 10 list of most popular collectible pieces from the 1950s.
Charles & Ray Eames 670/671 “lounge and ottoman”: $4,000
Hans J. Wegner “Papa” chair and ottoman $8,500
Carlo Mollino café chair $40,000
Gio Ponti “Parco de Principi” arm lounge chair $15,000
Charles & Ray Eames molded fiberglass chair $500
Dan Johnson “Gazelle” $10,000
George Nakashima “Conoid” chair $7,500
Jean Prouve “Anthony” chair $20,000
Arne Jacobsen “Egg” chair $8,000
George Nelson “Marshmallow” sofa $25,000
