Kulay-Diwa Gallery of Philippine Contemporary Art Kulay Diwa Gallery of Philippine Contemporary Art
25 Lopez Avenue, Lopez Village,Sucat
Paranaque City Metro Manila
Philippines
ph:
bobbit @kulay-di wa .com ... Investing in Philippine Art Investing in Philippine Art Investing in Philippine Art By Giselle P. Kasilag A new breed of collectors is staking their money on Filipino artworks R eal estate, stocks and treasury bills are not the only interests that those with resources are staking their money on. The 1972 Bencab acrylic on paper, estimated at US$19,000 to $26,000, was eventually sold for $54,000. The works of the late National Artist Vicente Manansala also did very well. His Woman with a Cat, a 2126 inch oil on canvas, sold at $40,000, edging its estimated price of $28,000 to 39,000. Magsaysay-Ho proved to be a well-loved artist among auction buyers as her 1957 1519 inch The Harvest, oil on board, sold at $47,000, way above the estimated price of $25,000 to $36,000. Sources at both auction houses told artsentralmanila.net that most of the buyers of these artworks were Filipino collectors who engaged in a âfrenzied biddingâ over the telephone to go after the pieces they wanted. The overall warm reception to Philippine art at the two top auction houses affirms the existence of local art collectors who, with their resources, have grown savvy enough to purchase artworks through the auctions. | |
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