Understanding the art of auctions with León Gallery’s Jaime Ponce de Leon
Jaime Ponce de León | PHOTO: JT Fernandez
When you sit down with Jaime Ponce de Leon, expect his phone to ring very, very frequently as he coordinates with clients, his team, and the many projects under his purview.
Despite Ponce de Leon’s roots in the peaceful provincial town of Dumaguete, he appears captivated by the frenetic cycle and fast-paced art world in the city. “I work best under stress and pressure. It’s all or nothing,” he says with a relaxed smile.
READ: Highlights of León Gallery’s The Magnificent September Auction 2024
As the founder of León Gallery, Ponce de Leon maximizes his roles as an auctioneer, interior designer, and art critic, drawing from an education at Harvard Business School. Since he launched the gallery in 2010, he and his team of art history and curatorial experts have positioned León Gallery as a leading authority on Filipino masterworks and rare antiques.
Breaking records on a regular basis, León Gallery has become established as the most trusted auction house in the country today.
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Jaime Ponce de León. | PHOTO: JT Fernandez
From calling lots for consignment to creating a comprehensive catalog in roughly two months, all the way to the auction itself, subsequent settlement of payments, and then deliveries, the auctioneer’s favorite part is building a relationship with the custodians themselves.
Article continues after this advertisement“It’s the hunt and the chase of certain pieces that becomes very challenging and rewarding, especially when you close a particularly important consignment.”
At León Gallery, everything is meticulously timed, with auctions scheduled in March, June, September, and December annually. Ponce de Leon switches effortlessly between conversations about The Magnificent September Auction coming up on Sept. 14, 2024 and notes on the art market and details of acquisitions.
How collecting art is like enjoying wine
In “The Goldfinch,” American novelist Donna Tartt writes, “You can look at a picture for a week and never think of it again. You can also look at a picture for a second and think of it all your life.” This is often the feeling that captivates certain collectors when they pursue a piece of artwork.
When it comes to advising collectors, Ponce de Leon takes a principled approach.
“Buy what you want, know what appeals to you, and keep the area of investment secondary,” he states. “Collecting art is like enjoying wine—it should be sipped and savored, never gulped,”—and never bought for potential returns.
“It would be heartbreaking and discouraging if the prices don’t rise in value… That happens. It’s never a sure thing when you buy art. If you buy art because you like it and it happens to rise in value, that is an added bonus, and the rewarding part of collecting art.”
Instead, Ponce de Leon recommends seeking guidance from art advisors, gallerists, or even fellow collectors. “However,” he says, “You have to form your own taste first. You can start by trimming down to concentrate on certain schools of art to improve a collection into what you would call a curated collection.”
Beyond visual art, León Gallery places antique furniture on the block. Passionate about the subject, he describes that while furniture trends may come and go, a piece’s history is what makes it a compelling commodity.
After World War II, a considerable part of Philippine heritage was lost. “Because Manila was the center of culture, everything was burned and bombed. Good quality furniture is now scarce to come by. With this in mind, there is always a race towards acquiring quality 19th century furniture pieces, and León Gallery has the world records to prove it.”
On fair trade
“I want to convey that auctions are always the most transparent, and the fairest manner to sell art.”
He clarifies that despite the volatile and exclusive nature of auctions, those who sell through auction houses benefit greatly since the auction house will always endeavor to sell at the best price.
León Gallery only gets a commission on the hammer price, so the higher it sells, the higher the price for the seller and the auction house, too. “It’s win-win,” he says.
The value of art is always based on auction results. “The index and the barometer of pricing,” as Ponce de Leon calls it. When you collect an artist and you want to know their prices, you always check the auction indexes. With this in mind, the auctions by León Gallery have brought the Philippines up to par with art from other Asian countries.
“Whether galleries or collectors may like it or not, auction houses are an essential part of the art ecosystem as an indisputable source of price information.”
The upcoming Magnificent September Auction
“Pieces of quality never go out of style,” he says. And what enthusiasts can find at the upcoming Magnificent September Auction is no exception.
“As long as you’re buying something of quality, there will always be a demand for it, hence we always aim to offer the best,” he says. “So we don’t offer just any Amorsolo; it has to be a fantastic and superior Amorsolo. It’s the same for all other artists. We try to uphold that principle in every auction we have.”
The auction house founder is enthralled by the exceptional works on the block, advising collectors to have a prioritized list of desired pieces, as competition can be fierce for the most coveted items.
Lot 51. Fernando Amorsolo, “Under the Mango Tree” oil on canvas 38 x 38 in. signed and dated 1929
Among the standout pieces is the exceptional “Under the Mango Tree” painted by Amorsolo in 1929 during the peak of the artist’s “Golden Period” when he became a household name.
“Undoubtedly among the very best Amorsolos that anybody can acquire. In my long experience, and having sold the most Amorsolos [in the Philippines]… This is probably the most beautiful I’ve seen that ticks all
boxes—from the period, the subject matter, and the provenance,” says Ponce de Leon.
Apart from the 15 Amorsolo masterpieces up for auction are other equally noteworthy works to watch out for. “We have a rare appearance of a Juan Luna from his Roman period, when he was in Rome doing his ‘Spoliarium’ and there was a beeline of aristocrats wanting to meet him and commission him for portraits. This is an example of a very good portrait by Luna of an Italian aristocrat.”
Lot 31. Vicente Manansala, “Woman Playing Guitar” oil on canvas 30 x 30 in. signed and dated 1978
Lot 110. Fernando Zóbel (1924 – 1984), “La Terraza III” oil on canvas 39.5 ” x 39.5 in. signed and dated 1978
Two works of Fernando Zobel—one from the Serie Blanca and the other from the ’60s, “straight from the Prado Museum exhibition in Madrid,” reveals Ponce de Leon—and an Alfonso Ossorio piece from the 1950s that was done during the times he spent with Jackson Pollock (“we can even surmise that perhaps Jackson Pollock had a hand in this painting”) are energizing additions to the auction.
Lot 69. Alfonso Ossorio, “Untitled” oil, enamel, and plaster on masonite 96 x 24 in. signed and dated 9.II.57
Lot 90. Elmer Borlongan “Untitled” oil on canvas 36 x 48 in. signed and dated 2004
Ponce de Leon also mentions Priscilla Chiongbian’s noteworthy collection of Manansala pieces, all published in a book, and in exceptional condition after being housed in her Beverly Hills residence.
“We have a very good Larawan of Bencab that was chosen to be the cover of a book that BenCab published a couple years ago. It’s a prime example of a BenCab on canvas,” he continues.
A couple of Elmer Borlongans that typify the Bataan-based artist’s works and a slew of H.R. Ocampos, Legaspis, and “a very early Anita Magsaysay-Ho from the 1940s” buoy up the strong lineup of the Magnificent September Auction this year.
Lot 119. Acta de la Proclamación de Independencia del Pueblo Filipino Manuscript; 12 pages with condition of slight tropical stain, water stain at the bottom, but still fine
“But of course, what would really be of note, will be the only known manuscript copy in private hands of the Declaration of Philippine Independence,” Ponce de Leon exclaims. “I think for every museum or every lover of history, this is a holy grail, even for the Philippine nation. And it’s something that can be had or acquired.”
With such a remarkable lineup of museum-quality artworks and rare historical artifacts, Ponce de Leon is understandably excited about The Magnificent September Auction at León Gallery, inviting both serious collectors and art enthusiasts alike to the preview on Sept. 11, 2024.
The tenacious overseer of León Gallery expresses positive sentiments on the vibrant art market today, ultimately highlighting the connections that are made along the way. “It is encouraging to go to gallery shows and even our auction cocktails because you see a feverish camaraderie in the art circles. You’ll make new friends, and very interesting acquaintances, too.”
Leon Gallery’s The Magnificent September Auction 2024 will take place on Sept. 14, 2024, Saturday at 2 p.m. The preview will be held from Sept. 7 to 13, 2024, between 9 a.m. and 7 p.m. at G/F Eurovilla 1, Rufino corner Legazpi Streets, Legazpi Village, Makati City, Metro Manila, Philippines.
For more information, visit leon-gallery.com, email info@león-gallery.com, or call (632) 8856-2781.
