MANILA – A local auction house is expecting continuous growth for the Philippine art scene next year.
In a statement, Salcedo Auctions noted the country’s steady appetite for modern art, growing following for contemporary artists, and improving affluence among Filipinos are expected to drive demand for art pieces.
For 2017, Salcedo Auctions reported an 18% rise in sales from the previous year at P627 million.
“Important Philippine artworks, particularly paintings and sculptures by National Artists and contemporary masters, valuable books and manuscripts, and rare antique Philippine furniture of the highest quality and historical significance as well as museum-quality tribal and ethnographic art, fine estate, and modern jewelry from the world’s foremost houses and haute horologists will keep buyers engaged and the market growing,” Salcedo Auctions director Richie Lerma said.
“The year 2017 was a record breaker and 2018 promises to be a bountiful one for the Philippine art scene,” Lerma added.
Opened in 2010, Salcedo Auctions specializes in the sale of fine art, jewelry, timepieces, decorative art, and other valuable collectibles.
This year, it started Gavel&Block, a subsidiary that offers premium pieces for art enthusiasts just beginning their collections.