Local auction house sets world record for Philippine drawing
MANILA, Philippines - With the rising interest in Philippine art, Manila is now staking its claim beside Hong Kong and Singapore as a player in the regional auction market. “Pila Sa Bigas,” a 1972 pen-and-ink drawing by National Artist Vicente Manansala, became the most expensive drawing by a Filipino artist to ever sell at auction when it fetched P686,312 ($15,598 inclusive of buyer’s premium and VAT) at “The Ilustrado Home + The Modern Decorator” sale conducted by Salcedo Auctions recently at the Mandarin Oriental, Manila. The price set a new world record, breaking the old record for a Philippine drawing — for a much bigger Manansala charcoal — that sold for $9,234 at Christie’s Hong Kong in April 2004.
According to Salcedo Auctions president Karen Kua-Lerma, the world record set in Manila marks a turning point in the sale of important Philippine works of art, with collectors used to sending prized possessions to Hong Kong or Singapore to realize higher returns on their investments now having an option to market these pieces locally at an international level.
She adds, “This reiterates our confidence in the quality of Philippine art, and the high regard that it is held not just here but overseas. Why unload abroad, when you can sell to the world from here? As for overseas collectors, we invite them to visit our website and send an absentee or telephone bid or, better yet, to come visit our showroom and attend our auctions in Manila to acquire the finest examples of Philippine art.”
Visit www.salcedoauctions.com for the complete sales result for The Ilustrado Home + The Modern Decorator. Consignments for the next auction Fine Jewelry & Watches to be held on Nov. 24, are now being accepted. For inquiries, call 964-4996 and 659-4094, or e-mail info@salcedoauctions.com.
