Cane of Kabunian - in Paradise.
We are proud to announce the world record-breaking sale of Rodel Tapaya's monumental and award-winning 2010 work 'Baston ni Kabunian, Bilang pero di Mabilang (Cane of Kabunian, numbered but cannot be counted)' at Salcedo Auction's inugural 'Paradise Found' auction.
The work doubled it's low estimate selling for almost 20 million Phillipine Pesos (c. 388'000 USD), ecplipsing his previous record of 151'000 USD and setting a new national record for the most expensive contemporary artwork.
The painting was acquired by the Tiroche DeLeon Collection in 2011 for $30'000. The result represents a phenomenal 13 X and an annual return for fund investors of 33.66% (Gross IRR). The net profit exceeded $300'000, more than 1000%.
The new owner is now custodian of what is without doubt one of the greatest artworks of Contemporary Filipino Art, which should rightfully remain in the Phillipines, and hopefully one day made available for the public to admire.
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March 26, 2014—With 290 works by artists from over 30 countries the Tiroche DeLeon Collection continues to be an important source of information for art aficionados all over the world, as well as a preferred partner to several institutions to whom we are making repeat loans.Read More »