Investing in your passions

MANILA, Philippines — Bank deposit rates are so low you might as well spend your money. Navigating the volatile stock market, on the other hand,  can be nerve wracking without deep understanding of the economy and the  business environment. 

But investors don’t have to despair. One option is to invest in art and other high value items such as jewelry, furniture and other fine pieces, according to Ramon ‘Richie’ Lerma, director of Salcedo Auctions, one of the country’s top auction houses.

“Art is not a traditional form of investment. We call it more as passion investment. There is that aspect that you cannot really measure and that’s the emotional aspect. The chances of an artwork that’s aesthetically pleasing having greater demand is real. All of these factors go into the idea of art as a passion and investment. In terms of the investment, what you would like to be able to ascertain is that you are not going to lose money. When you acquire, there is that potential that it will increase in  value over time,” Lerma told The STAR in a recent interview.

“When I was working at the Ateneo Art Gallery, I was in charge of ensuring that the artworks are properly insured and appraised. Each year, I would very conservatively assign at least a 10 percent appreciation for the pieces. That is still quite conservative but certainly for 10 percent that is a lot more than what most financial instruments can offer,” he said.

Lerma’s Salcedo Auctions is presenting its signature event dubbed The Well Appointed Life at The Peninsula Manila. The event is the first-ever, month-long celebration of the world of auctions mounted by Salcedo Auctions with co-presenters The Peninsula Manila and Santos Knight Frank.

The main feature of the event is the auction weekend to be held on Sept. 23 to 24 at the Rigodon Ballroom which will feature some 500 lots divided into four categories: Connoisseur Collection, Important Philippine Art, Fine Jewelry and Timepieces and Rare Automobiles.

The yearly auction event is now in its fourth year and it has been growing every year, according to Lerma.

“Ever since we pioneered the fine art and collectibles auction industry eight years ago, we set out to bring world-class auctions to the Philippines, befitting the rising fortunes of our country and our place in the global art community,” he said.

Lerma said it’s not just about the acquisition of objects but instead, about the country’s values and history. “History and tradition are at the heart of what we do at Salcedo Auctions,” he said.

“How we protect our culture and how we see ourselves as a people. Of course, being surrounded by objects of beauty gives us great satisfaction and delight, but so does the knowledge and satisfaction that comes with recognizing the historical importance of these pieces,” Lerma said.

“Our institutional partnerships underscore our very high standards and the trust and confidence that we enjoy at an international level,” Lerma added.

Mark Choon, general manager of The Peninsula Manila said the hotel has been a longtime supporter of the arts, adding that each property in the Peninsula group worldwide is unique because it reflects the rich history and culture of its locations.

Santos Knight Frank, meanwhile, is the Philippines’ market-leading, full service real estate organization. Its global partner Knight Frank is widely regarded as the most prestigious brand in luxury real estate.

 “We are able to showcase prime properties both in the Philippines and around the world and work with our high-net worth clients to complete complex cross-border investment transactions,” said Rick Santos, chairman and chief executive officer of Santos Knight Frank.

Santos said the partnership with Salcedo Auctions is the perfect opportunity to create a truly unique buying experience in the Philippines.

The connoisseur collection features fine furniture, objets d’art, international artworks, rare books, and valuable maps. This year’s highlight is a unique confluence of Chinese furniture workmanship and Philippine imagery from the turn of the century: a table and a pair of chairs finely carved in polished ebony rosewood with very rare and intricate carved motifs of birds and plantain leaves, acquired by descent from the estate of a renowned ilustrado.

The Philippine art collections will feature art works by masters such as Fernando Amorsolo, BenCab, José Joya, Lao Lianben, Arturo Luz, Vicente Manansala, and Mauro Malang Santos, as well as rare and highly sought after contemporary works by Annie Cabigting, Jose John Santos III, Rodel Tapaya, and Ronald Ventura. The main feature of the sale is an impressive 30-feet long H.R. Ocampo painting (1967), the largest work of the artist in private hands.

The fine jewelry and timepieces collection offers investment-grade diamond and statement colored gemstone pieces and watches from the world’s leading makers. Watch highlights include a Rolex Daytona Paul Newman Ref. 6263 in stainless steel with a panda dial, one of the most desirable vintage watches in the world; a Rolex Daytona Ref. 6265 in 18k yellow gold with a black dial; a grand complication from A. Lange & Söhne, the Datograph Perpetual Chronograph set in platinum; and a fascinating IWC Portuguese tourbillion. A flawless 19.41ct and 17.99ct unheated pear-shaped green tourmaline with brilliant white diamond pendant earrings and a 3.53ct unheated cushion deep royal blue Burmese sapphire and diamond ring lead the jewelry offerings.

There will also be rare automobiles – European and American cars, with this year’s highlight, a 1934 Ford Model A Coupe accompanied by original photographs from the time of its production to the present.

Indeed, those looking for other forms of investments may find it not in the usual bank products, funds or stocks. They may find it in Salcedo Auctions’ The Well Appointed Life.