Salcedo Auctions’ Under the Tree: The Wish List auction last November 26 Saturday saw a new world record for
National Artist Napoleon Abueva, with his sleek modernist narra bench selling for PHP 3,036,800 or over 200% of the estimated price, and a world record based on size for abstract expressionist Lee Aguinaldo’s untitled 1963 piece, measuring just 18 x 18 inches and selling for PHP 2,569,600.
The auction capped 2022 and brought together art collectors and aficionados both online and on-site at the Salcedo Auctions at NEX Tower in Ayala Ave. The prices and results are verifiable. The late Justin Nuyda’s Search Mindscape: ‘Break of Dawn set a new world record and price benchmark for the master, at PHP 9,344,000. All the proceeds from the sale of the Nuyda masterpiece will be donated to Search Mindscape Foundation and The Philippine Cancer Society in honor of the late artist’s legacy.
The other notable impressive bids: National Artist BenCab’s Introspection No.1 which sold at PHP 5,256,000, matching the record for any work on paper by the artist, the previous one also sold at Salcedo; the famous glass sculptor Ramon Orlina’s Triumvirate from the Tower Club collection going up to PHP 7,592,000, equalling his price record achieved at Salcedo in September 2022.
More than half of the lots sold at over 100% of their published estimates, in the spirit of the famous Christmas carol, quote by Salcedo Auctions chairman and chief specialist Richie Lerma: “ ‘Leading, still proceeding, guiding us to that perfect light’ as the only barometer of the Philippine art market.”
Consignments to the Important Philippine Art & Furniture auction set for March 2023 are being accepted. To inquire, send an email to [email protected] or phone +639175912191