On the auction block with Karen Kua Lerma
When Karen came back to Manila from Sydney, she wanted to recreate her life there — going to auction houses and looking at collections. So she put up Salcedo Auctions, the first and only auction house in the Philippines.
Tucked side of in the Salcedo quiet Village is the first and only auction house in the Philippines known as Salcedo Auctions. Salcedo Auctions specializes in the sale of fine art, jewelry, timepieces, furniture, decorative arts and collectible accessories by leading local and international artists and artisans.
At the helm is Karen Kua Lerma. Armed with a degree in BS Psychology from the Ateneo de Manila University, she dreamed of being in a business similar to that of her family’s. But having Richie Lerma, (currently director and chief curator of the Ateneo Art Gallery) as husband and with her passion
for fine jewelry, it was inevitable for Karen to merge into the same interest as his.
Early in their marriage they relocated to Australia where her husband was running the exhibitions program of Customs House, a heritage-listed building owned by the City of Sydney. In between taking care of the children and the household, Karen decided to enroll and eventually gained a Certificate in Diamond Grading from the Gemological Association of Australia. She then trained in jewelry design and fabrication under the tutelage of the renowned Swiss master jeweler, goldsmith and silversmith Ernst Pfenninger.
In 2009, the Lermas permanently moved back to the Philippines. Missing her life back in Australia were she and her family would spend the weekends visiting museums, attending auction previews at Sotheby’s, her dreams of bringing the auction experience to the Philippines slowly began to shape up.
In July 2010 Salcedo Auctions was born and
the rest is history. With a steady and satisfied clientele, it has gained the trust and prominence of being the pioneer and only auction house in the 17 auctions. It has the distinction of having set several world auction records, among these the highest price for a Philippine drawing, set during The Ilustrado Home + The
Modern Decorator sale in September 2010 for a pen and ink by National Artist Vicente Manansala. Last month, the auction house also achieved a record price for a work by rising artist Ronald Ventura, surpassing the standard set at a foreign auction house the previous year.
Read on as we get to know the lady behind Salcedo Auctions.
PHILIPPINE STAR: What was your reason for putting up Salcedo Auctions?
On a personal level, when Richie wanted to move back to the Philippines, I needed a reason to leave our family’s idyllic life in Sydney, come back to Manila’s chaos, and stay. So I thought of recreating my life there. I found that it was possible to do this in Salcedo Village, thus name of the auction house.
On a purposeful level, I wanted to change the Filipinos’ mindset about trading secondhand
goods. I remember how exciting it was finding bargains and/or rare, one-of-a-kind treasures at auctions. I love to shop but I also have to be practical. Flea markets or tiangges can be fun to visit, but they’re rather stressful and chaotic. I liked the idea that through an auction house, there could be an orderly venue for bargain and treasure
hunting, as well as a proper and dignified venue for people to de-clutter or unload things.
Then I wanted to show that professionalism and transparency can work here in the Philippines, that standards can be set, that procedures can be followed, and that quality can be met. I
wanted a reason to be proud of being back in the country. For Filipinos, I wanted to give them the option of having their valuable assets recognized and appreciated by the world without necessarily having to send them overseas. I wanted the world to come here.
What are the challenges of heading the first
and only auction house in the country?
The auction process, particularly when it comes to valuable property, is very new to the Philippines. We thus need to educate our audience — be this the seller or the buyer — about the way we do things. Rather than bargaining down and devaluing a piece, we start at an attractive price and let the market decide on its value. Also, people are intimidated and have this preconceived notion that buying at auction is costly. This is not always the case, as many of our clients have realized how affordable some pieces can be. Professionalization, standardization, transparency/price benchmarks.
How do you know if the art works sent to you are real?
I am fortunate to have my husband, Richie, who is the director and chief curator of the Ateneo
Art Gallery, as an advisor. His longstanding, firsthand experience and intimate knowledge of the works of the masters, critical eye, and discerning taste give Salcedo its edge. Richie is of course also well known for having started the trend in collecting the works of young artists through the Ateneo Art Awards, which he established almost
a decade ago. He was among the first to have spotted and championed the likes of Geraldine Javier and Ronald Ventura when they were virtual unknowns so I can confidently say that a large part of the success that they are enjoying today is because of him. In all the different categories,
be it fine art, decorative arts, jewelry, watches, wines, books and maps, the auction house gets the opinion of respected academics and specialists in the trade. From them and from our own research, we make a judgment call and stand by our opinion regarding the pieces we put up for
auction, so that there is that confidence when an
item is purchased from Salcedo Auctions.
How is the response towards Salcedo Auctions in Manila?
People are curious; people are excited and are learning. In a short amount of time, we’ve grown
beyond Manila, such that we already have clients from the provinces as well as
from Singapore, Hong Kong, Indonesia, the US, Australia, and even Europe!
To date, Salcedo Auctions has already successfully mounted 17 auctions. We have set world auction records, among these the highest price for a Philippine drawing, set during The Ilustrado Home + The Modern
Decorator sale in September 2010 for a pen and ink by National Artist Vicente Manansala. Last month, during our Important
Philippine Art sale, the auction house also achieved a record price for a work by rising artist Ronald Ventura surpassing the standard set at a foreign auction house last year.
Frank Gehry and Rauschenberg pieces that we offered during our Art + Designsale last Feburary were locally sourced! The reasons people have for unloading pieces of course vary, and we have seen that there is a great need for our services, in particular in helping people with heirloom pieces who simply have too many “things” or are downsizing to apartments or helping to settle estate issues, which previously had been largely left to the buy- in- stock segunda mano trade who will offer to buy out your old belongings without giving you any idea about the true worth of your prized possessions. There is now an alternative, and Salcedo Auctions has found its niche.
Do you feel our government is giving its full support for the arts in the country?
I think it can do better. The government has to realize that a country’s arts and culture scene is an indicator of a society’s level of sophistication and progress which, when showcased to the rest of the world, can translate to big economic gains that will trickle down to the masses. Also, it has to realize that it is not just important for the country’s art to be appreciated by its people, but efforts must be made to share it with the world.
If you weren’t working in Salcedo Auctions what would you be doing now?
I would probably be back in Sydney, watching the kids grow up and, during my ‘me time’ sit on a bench in Rushcutters Bay Park reading a book or catching up with friends. For work, I would probably be engaged in the jewelry trade, which is my passion.
What is your advice to working women?
Learn to speak up.
Who curates what goes in the auction house’s showroom? Can you tell us about the process?
I decide on what goes to auction after getting the advice of my husband, as well as our other specialist consultants. The
first point of contact for sellers is usually done via emailtoinfo@salcedoauctions.com with photos of pieces that they wish to unload. Should it be of interest to us, we schedule an appointment to view the
item at our office, where we also provide an auction estimate and suggest a reserve price. Once the seller is okay with our terms, a consignment contract is signed.
Salcedo Auctions is located at the ground level of Three Salcedo Place, 121 Tordesillas Street, Salcedo Village, Makati City. Call 6594094, e-mail info@salcedoauctions.com. An online catalogue will be available on http:// www.salcedoauctions.com.