Salcedo Auctions recently concluded another successful sale on 14 September. It’s always exciting to watch the bidding live because you get a better sense of the drama that unfolds when some auction lots are hotly contested, and there were several instances of this on Saturday.
The Malang sale was the highlight, featuring just two buyers in the final minutes of the bidding in a valiant fight to the end. You could sense that both were determined to acquire the Malang piece — a stunning (and fresh to the auction) work titled Woman from 1992. Ultimately, auctioneer Richie Lerma, chairman and chief specialist of Salcedo Auctions, brought the hammer down to the cheers of those present in the gallery. The final price? A whopping P26,864,000 (including buyer’s premium) — a new world record for the artist, elevating him to the top ranks of the Philippine art market.
The bidding for Jose John Santos’ Handyman was just as exciting to watch, especially as it reached the homestretch with two bidders vying for the artist’s iconic work. Just like Malang’s Woman, Santos’s Handyman also broke an auction world record with a final price of P8,760,000.
Other major sales included P15,768,000 for Ang Kiukok’s painting titled Horse, a rare piece that shows the artist’s lighter side. BenCab remains popular among established collectors, with two of his works going to new owners: The Door, which sold for P3,504,000, and the artist’s iconic Sabel, which fetched P4,672,000. Like BenCab, two works by H.R. Ocampo were sold during the auction as well: an untitled abstraction that achieved a final price of P2,803,200, and another piece titled Five Days Before Christmas, which fetched P3,036,800. There was also the iconic bench by Napoleon Abueva, sold for P3,504,000; Arturo Luz’s Black Forms, White Space, sold for P4,088,000; and Jose Joya’s The Blue Cult, which fetched P2,569,600.
Lerma sees the outstanding outcome as a good sign of things to come. “Salcedo Auctions defines what a real art market is — with many successful bids that soar well beyond their published pieces, some even setting world records, and even more lots selling within their published estimates,” says Lerma. “It shows our expertise in accurately feeling the Philippine art and collectibles market, with reliable and verifiable results in keeping with our role as arbiter and barometer. What happens at Salcedo Auctions impacts the way people sell and buy art in the months to come as we find ourselves in the midst of preparations. In fact, we are already taking consignments for our upcoming sales in October and November.”
Consignments are now being accepted for the next marquee sale, “Under the Tree: The Wish List,” set for Saturday, 23 November. For inquiries, email info@salcedoauctions.com or call 09171075581 or 09175912191. For updates, follow @salcedoauctions on Facebook and Instagram.