Thirty-year-old Hollywood art institution LACE (Los Angeles Contemporary Exhibitions) auctions more than 100 pieces by emerging artists who were handpicked by guest curators from MOCA and LACMA. The event is cohosted by Sotheby’s director, Blake Koh, and features patter from Chloe Sevigny and Madonna impersonators. VIP cocktails and preview begin at 7 p.m. ($150, advance tickets; $175, at the door). General reception is at 8 p.m. ($50, advance tickets; $75, at the door). From May 3 to 15, artworks are on view in the gallery, which is open to the public. More information.