Cover Jaime Ponce de Leon

When Jaime Ponce de Leon opened León Gallery in 2010, he didn’t realise then that it would eventually be the country’s leading auction house

Nestled in the heart of Legazpi Village in Makati City, León Gallery first opened its doors a dozen years ago. It began as an exhibition space featuring works that Jaime Ponce de Leon, its proprietor, had discovered on his travels abroad: rare Filipino old masters, exquisite silver, as well as ivory antiques that had been part of the Manila-Acapulco trade to Europe.

While possessing a degree from his hometown’s Silliman University in Dumaguete, Ponce de Leon had early on shifted gears and wound up at the Philippine School of Interior Design. “Even during my first days as a designer, I had become enamoured with art,” he is quick to note. “I believe art is the soul of any setting—and art was always the focal point of my interiors.”

Read also: In Conversation With Jaime Ponce de Leon

Eventually, the gallery would become, in Ponce de Leon’s words, “a sort of hub for people to look and see what was new” and talk about the goings-on in the art world. It was thus completely by accident that he would find himself in the auction business. “By happenstance”, he recalls, “a friend walked in one day and asked if I could help him liquidate his company’s art holdings. I immediately said ‘yes’ although, in retrospect, I had no idea what possessed me to say it so quickly and gladly! Until that moment, I had no formal experience in the business except for buying from small houses in Paris and Madrid.”

The auction was a resounding success, propelling Ponce de Leon to hone his abilities by learning as much as he could: taking courses not only in Sotheby’s and Christie’s but also at the University of Arts London as well as Harvard. “I’m a great believer in art education. And that’s why the first auction of the year is named for the Asian Cultural Council [ACC]. A portion of its proceeds goes to supporting Filipino artists who want to spread their wings abroad either through further study or through a residency. ”

Read more: José Joya: Why the National Artist is a Pillar of Philippine Modern Art

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Above "Tinapa Vendors" by Anita Magsaysay-Ho (1914 - 2012), signed and dated 1955 (lower right), egg tempera, 20” x 16”

“I think the art and auction business is all about trust,” said Ponce de Leon. “The ability to give a collector the confidence to entrust his or her most prized possessions to you is what matters most.” And trust they do: the families with such influential names have signalled their belief that their beloved works of legacy will find their way to the right new home—at staggering prices. León Gallery has built a solid reputation for making (and then breaking) world records for the whole gamut of Filipino art.

“I always like to point out that the highest price for a Filipino work of art at a Philippine auction is an abstract work by José  Joya, the magnificent Space Transfiguration,” said Ponce de Leon. “Mrs Josie Baldovino, Joya’s sister, sent us the work for auction. While we were doing the catalogue, some collectors made offers. One even to the tune of PHP 50 Million. It was all very tempting for her but she decided to stick with us and trusted that we would deliver the best possible price. It went on to sell for PHP 112 million, a world record for Joya and for Filipino modern art.

Read more: A Look Back at Anita Magsaysay Ho: Her Life, Art, and Philosophies

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Above "Space Transfiguration" by José Joya (1931-1995), signed and dated 1959 (lower right), oil on canvas, 60” x 70”

“Then, of course, there is Anita Magsaysay-Ho’s Tinapa Vendors, which checked all the marks: beauty, rarity and a sterling provenance. It was documented in the highest circulation magazine of the time, The Sunday Times, with a quote from Anita herself, describing it as her favourite marketplace scene in her favourite medium of egg tempera. When it came out of the crate and I laid my eyes on it, my heart was pounding! This luminous work never stopped going until it reached PHP 84 million which, when you consider the size of this petite treasure, was a world record for Philippine painting per square inch.”

The emergence of rare and coveted works from postwar Filipino Modernists over the last decade not only made the revered artists of the period be appreciated again but also helped many collectors discover surviving works of previously lesser-known artists, thanks to León Gallery.

“The Philippine Art Gallery [PAG] years comprise what is considered as the ‘golden period of Philippine art’,” explained Ponce de Leon. “It is from this period that the most sought-after works of the Philippine Modernists emanated. If New York had its Peggy Guggenheim or Leo Castelli, Manila had its own Lyd Arguilla, and it was from her gallery, the PAG, that all these important pieces were exhibited before.”

Read more: Tatler Deep Dive: A Look at the Art of Mabini Street in Ermita, Manila

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While the works of the modernists may appear to dominate the current scene, Ponce de Leon points out, “This just may be the time to begin investing in 19th-century masters, the gilded age of our heroes. The best part about collecting art is that one learns so much about our nation’s history and the masterpieces can shine a bright light on our country’s special narrative.”

Out of the gallery’s many rare treasures that have gone to record-breaking auction sales, Ponce de Leon shared that there are many that still have the power to astonish him: “There is, for example, the Hagabi [Ifugao ceremonial bench] that was just sitting in the garden of a certain distinguished family. We sold it as is with a starting bid price of PHP 1 million. It hit PHP 22 million, which is a world record for Philippine Tribal Art.”

Read also: Philippine Artworks with Contested Histories: Felix Hidalgo's Masterpieces, Juan Luna's Women, Jose Rizal's Wedding and More

I think the art and auction business is all about trust. The ability to give a collector the confidence to entrust his or her most prized possessions to you is what matters most.

- Jaime Ponce de Leon -

His best advice for collectors: “There are no rules. Just buy what you like and make sure you study whatever area you go into. Mistakes will be made but that’s the price of admission. Remember, you can always edit your collection later. Be prepared for the possibility that your taste can [and will] change over time. As you accumulate more knowledge and experience in your journey of collecting, you will also gain realisations about the manifestations you will meet along the way.”

“I count myself very lucky,” revealed Ponce de Leon. “I’ve had more than my fair share of mentors and friends, and I can only express my true gratitude for all their support in more ways than one. All things, considered, I am looking forward to 2022. We plan to put together more specialised sales and to present more platforms to getting art to more people.”


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León Gallery