Closing the year on a high note with exceptional, verifiable, and realistic prices achieved in a packed live and online sale room filled with long-time collectors and a new generation of bidders.
“Salcedo Auctions celebrates the end of the 2022 auction year with the glorious rejoicing of the Festive Season as the ‘Under the Tree: The Wish List’ auction saw records break and exceptional, verifiable, and realistic prices achieved in a packed live and online sale room filled with long-time collectors and a new generation of bidders,” the auction house shares.
In a press statement, Salcedo Auctions continues, “Highlights of the day included a new world record for National Artist Napoleon Abueva, with his sleek modernist narra bench selling for PHP 3,036,800 – over 200% of its 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 late Justin Nuyda’s ‘Search Mindscape: ‘Break of Dawn’ set a new world record and price benchmark for works by the master soaring to PHP 9,344,000. In the true spirit of giving, all the proceeds from the sale of this magnum opus will be donated to Search Mindscape Foundation and The Philippine Cancer Society to honor the late artist’s memory and his legacy.
Also notable were the impressive bids for 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 other one also sold at Salcedo – and the revered glass sculptor Ramon Orlina’s ‘Triumvirate’ from the Tower Club collection scaling to PHP 7,592,000 – equalling his price record, likewise achieved at Salcedo in September 2022.”
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In addition, more than fifty percent of the lots sold at over 100% of their published estimates shows Salcedo Auctions, in the words of Salcedo Auctions Chairman and Chief Specialist Richie Lerma, quoting that famous Christmas carol: “ ‘Leading, still proceeding, guiding us to that perfect light’ as the only barometer of the Philippine art market.’”
According to the auction house, consignments to the ‘Important Philippine Art & Furniture’ auction in March 2023 are now being accepted. For inquiries, email [email protected] or contact +639175912191.
Photos courtesy of Salcedo Auctions.
