If the Price is Right
Salcedo Auctions’ Richie Lerma, one of the country’s top connectors in the art and business arena, lets Shauna Popple Williams pick his brain
Creative, meticulous, and an astute businessman, Richie Lerma is a pioneer in the Philippine auction scene. His auction house, Salcedo Auctions—which he established with wife, Karen—has become an authority on rare collectibles. It has also become a springboard from which artists and artisans—both local and international—are able to champion their works, be it fine or decorative art, jewellery, or accessories. When it opened its doors in 2010, it became the first of its kind in the country, brandishing a level of professionalism never before seen. It plays both sides of the coin of the art collecting world with infinite, albeit exciting opportunity.
To date, the house has mounted nearly 50 auctions; the successful man behind it expounds on both the appreciation and collection of great art, and what it has been like to liaise between seller and buyer in the Philippine setting. Richie Lerma: I think that growing up surrounded by art and being raised by parents whose enterprise revolved around the creative industries wired me for the life and the business that Karen and I have built. I started in advertising as a copywriter before I went headlong into the world of fine art, becoming the director and chief curator of the Ateneo Art Gallery, where I worked for 15 years. Both these experiences provided the perfect combination for the establishment of Salcedo Auctions. PT: Which auction was the most exciting and why? Which was the most successful?
RL: Each sale is as exciting as the pieces and bidders vary, but I would have to say that I felt the most thrilled during our “Important Philippine Art” sale at “The Well-Appointed Life: An Auction Weekend” last year when we offered Juan Luna’s long-lost ¿A Do… Va la Nave? The painting was found in Argentina, and the owner decided to bring it back to the country and to offer it through Salcedo Auctions. Seeing it sell for the price that it did was a high point both personally and professionally.
PT: What trends do you foresee in the Philippine art market?
RL: I see a growing demand for quality, a more price sensitive market, a revived interest in the masters, and a tightening criterion for excellence and lasting value with regard to local contemporary art.
RL: Being a critical buyer that is not simply part of the bandwagon is a characteristic that I hope to see more of. Buying purely on a name, or being easily smitten by unscrupulous dealers who feign expertise is something that the scene can benefit from having less of.
RL: For auctions, the sale category determines the pieces selected. For our “Important Philippine Art” sale, for example, I don’t include artists just because they are well-known names. I only select works that in my estimation and opinion are exceptional, iconic examples of the oeuvres of National Artists, old and modern masters, as well as pieces by contemporary artists that we see have lasting value.
RL: Juan Luna’s ¿A Do… Va la Nave? I don’t know if we will ever find anything that comes close to this masterpiece. We were privileged to be its custodians for a few months prior to its being sold. Karen and I miss seeing it everyday.
PT: Whose art collection would you most want to possess?
RL: We have had the opportunity to see the art collections of many individuals whose identities we cannot reveal to protect their privacy. We would be honoured to offer their pieces for auction in the future—they know who they are. I, of course, made sure to make my interest known!
RL: You can imagine how often I have been asked this question in print! I have yet to see anything else that can compare to Las Meninas by Diego Velazquez.
RL: All the objects that we offer in the various sale categories of “The Well-Appointed Life”— fine and decorative art, books, maps, jewellery, timepieces, and even rare automobiles— are highly relevant today as they edify our existence and touch our higher sensibilities. We celebrate this through our auctions, and I believe that the joy that they bring, the way they enhance our lives, will persist for future generations.
RL: I am currently working on preparations for “The Well-Appointed Life” auction weekend, which takes place this 17-18 September and we are, in fact, already working on our November 2016 “Under the Tree” holiday auction. On top of that, our exhibition for Art Fair Philippines 2017 is also underway.
philippine tatler . september 2016