Art/Style/Travel Diaries

Anita Magsaysay-Ho’s Portrait of a Young Woman goes for over Php39M

Salcedo Auctions steers steadily through unpredictable Philippine and regional art market

Salcedo Auctions' chairman and chief specialist Richie Lerma presides over the auction of Anita Magsaysay Ho which set, based on size, a new world record price.

Anita Magsaysay-Ho (1914 – 2012) ‘Portrait of a Young Woman’ (1953)

Anita Magsaysay-Ho’s 1953 egg tempera Portrait of a Young Woman went on the block for Php 39,712,000 at Salcedo Auctions’ Finer Pursuits: Important Philippine Art & Rare Collectibles last Saturday, 15 June 2024. The sale—done during a strongly contested bidding between two parties on-site at  Salcedo Auctions in Makati, with an absentee bidder and phone bidder as well— set a world record based on size, with verifiable data from international auction houses.

Alfonso Ossorio (1916 – 1990) ‘Fat & Thin’

Ang Kiukok (1931 – 2005) ‘Cactus and Yellow Window’

Ang Kiukok (1931-2005) ‘Mother and Child’

Arturo Luz (1926 – 2021) ‘Burlap’

Carlos Botong V. Francisco (1912 – 1969) ‘Kuloban ni Rubing’

Fernando Amorsolo (1892 – 1972) Untitled (Planting Rice with Mayon Volcano)

Lee Aguinaldo (1933 – 2007) ‘Painting in Green No. 2’

Rodel Tapaya (b. 1980) ‘Ten Heads’

Victorio Edades (1895 – 1985) ‘Bagobo Girl’ (1980)

Ang Kiukok (1931 – 2005) ‘Flowers, Vase, Table’

Fernando Zóbel (1924 – 1984) ‘Invierno en Sevilla IV’ (1977)

Other major sales for National Artists and foremost modern and contemporary artists last June 15 included:
Fernando Amorsolo, Planting Rice with Mayon Volcano—Php 14,016,000
Ang Kiukok, Cactus and Yellow Window —Php 11,096,000
Mauro Malang Santos, Untitled (Women and Children)—Php 8,760,000
Fernando Zobel, Invierno en Sevilla IV—Php 8,526,400
Alfonso Ossorio, Fat & Thin—Php 6,424,000
Arturo Luz, Untitled (Burlap)—Php 5,840,000
Ang Kiukok, Mother and Child—Php 5,606,400
Lee Aguinaldo, Painting in Green No. 2—Php 4,438,400
Ang Kiukok, Flowers, Vase, Table—Php 4,438,400
Carlos ‘Botong’ Francisico, Kuloban ni Rubing—Php 3,504,000
Victorio Edades, Bagobo Girl—Php 3,387,200.00
Rodel Tapaya, Ten Heads— Php 3,270,400

The auction house’s bright and airy sale room at NEX Tower, Ayala Avenue, Makati, was filled to standing-room capacity. Towards the end of the auction, its online bidding platform crashed with the volume of traffic from the higher-than-expected number of participants and viewers.

Through its precedent-setting results, verifiable sales and world records set, Salcedo Auctions has become an arbiter and barometer of the Philippine art market, both for established and emerging collectors and art patrons.

Established in 2010, Salcedo Auctions helped cultivate a dynamic Philippine art market by pioneering in auctioneering, adhering to the integrity of this process, and thus maintaining its credibility. It helps safeguard its clients’ financial interests by maintaining its buyers’ premium at a consistent 16.8%. Following international auction standards, it has steadfastly insisted on fair-trading policy whereby the “reserve” or “sell at” price is not set higher than the published low estimate, to maintain market transparency.

Such steady approach saw Salcedo Auctions prevail even during the pandemic and through the uncertainty and unpredictability of the Philippine art market.

Fine jewelry and timepieces also achieved impressive results, leading with the 10-11 carat pear-shaped brilliant-cut diamond ring set in white gold, which sold at Php 4,672,000.

Joaquin Lerma debuts as auctioneer trainee at the Finer Pursuits auction.

At the June 15 auction, for the first time, Joaquin Lerma, son of Salcedo Auctions co-founders Richie and Karen Lerma, was trainee auctioneer, during the Philippine ethnographic art, numismatic, and rare books section of the sale. The young Lerma is an incoming senior at the NYU-Stern School of Business, his early participation underscoring Salcedo Auctions’ long-term commitment to its art patrons way into the next generation and the value it gives to legacy.

Consignments are now accepted for Salcedo’s marquee auction, ‘The Well-Appointed Life,’ set for Saturday 14 September, live and online, at 2pm.

For inquiries, email [email protected] or phone +639171075581 | +639175723990 | +639178257449 

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