That’s roughly P132,676 per square inch.
We expected Anita Magsaysay-Ho to set astounding prices at the Léon Gallery‘s The Magnificent September Auction—if not to break her own record, which currently stands at P86.4 million for “Fruit Market.”
While “Laughter,” her 1957 oil-on-canvas work and one of her first in the said medium, did not set a new record, it still sold at a mind-boggling price of P53 million. Adding buyer’s premium and VAT, this translates to P63.6 million.
That’s roughly P132.676.67 per square inch.
Photo from Léon Gallery.
Léon Gallery got even more jampacked and abuzz as the auction approached closer to Lot 26, which started at P22 million. Applause roared as Magsaysay Ho’s work was flashed on the screen.
In just three minutes, “Laughter” rose quickly to P30 million, skipping to P35, P36 million, then a back-and-forth battle in the 40-million mark, breaching P50 million until silence ensued when the P53-million bid was set (net price).
“Laughter” joins the club of Magsaysay-Ho’s works that sold for tens of millions at auctions. Recent ones include ‘Egg Vendors‘ (P61.9 million), “Women with Baskets, Fish, and Crab” (P52.5 million), “Fish Vendors” (P49 million), and the previous record holder prior to “Fruit Market,” “Tinapa Vendors” (P84 million).
According to Léon Gallery’s records, from 2014 onwards, there were 17 Magsaysay-Ho works that sold for eight-digit figures. “Laughter” marks the 18th multi-million sale for the acclaimed modernist.
