Philstar.com
September 22, 2025 | 9:56am
MANILA, Philippines — Auctions are exciting but can also seem intimidating, with bidding wars happening between serious collectors, leaving little room for those who are simply hoping to snag their dream piece. But what about an auction where an artwork’s selling price goes down, since there’s no bidding war?
That’s the idea behind “Grace in Reduction: A Reverse Auction” on September 20 at Nine Two Eight Gallery, LRI Design Plaza in Makati.
“Unlike traditional formats, it begins with what I call a ‘dream price,’” gallerist Jeffrey G. Dimalanta said. “It’s the highest price a lot could go for, set by the consignor. If no one takes it, the price goes down gradually in set increments.”
If no one still makes an offer, Dimalanta said, “we announce that it has reached the reserve price and then we hold a final round of bidding.”
The one who raises the auction paddle first in the final round gets the artwork.
Transparency and fairness
“Grace in Reduction” was held last Saturday, with a preview from September 13 to 19.
On the block are 150 lots — described as “a wide-ranging collection of Filipino artworks, spanning old masters whose works carry history and legacy, and upcoming and contemporary artists who bring fresh perspectives and new energy.”
Included are works by Filipina abstractionist Nena Saguil, National Artist and internationally acclaimed modernist Federico Aguilar Alcuaz, National Artist H.R. Ocampo, vibrant works by Manuel Baldemor and Tony Mahilum. Sculptures and prints were also on the block.
What really makes the reverse auction method different is that the reserve price is disclosed openly, both in the catalog and during the live auction — which Dimalanta said is the first of its kind globally.
“Since this is a reverse auction, the first paddle raised wins, so there’s no bidding war. And if two or more paddles go up at the same time, there is a special tie-breaker round to determine the winner — also a first. The mechanics of this tie-breaker will be something new and exciting to watch,” Dimalanta pointed out.
Consignors and bidders will soon see that they can trust it — reserve prices are declared openly, there are no bidding wars, and it’s first-come, first-served. Even absentee bids carry real weight, since the earliest time stamp wins and the live floor cannot compete against them.
Dimalanta said he hopes the audience comes to appreciate this new way of acquiring artworks. “It’s transparent, pure, and honest — and I believe that’s exactly what makes it sustainable.”
“Grace in Reduction” is his fifth event. In June, he held an auction at his Nine Two Eight Gallery called “Art Without Markup” — a transparent and artist-first approach to offering paintings, in which collectors pay the same price that the artist or consignor sets, with no additional gallery markup.
“I launched this at the tail end of June, and to my surprise, it did pretty well. What I thought would just be a trial run has now become the new business model of Nine Two Eight Gallery. Instead of treating it like a one-time idea, we’ve built the gallery around it — putting transparency and fairness at the center of how we operate. The warm reception confirmed that this direction isn’t just possible, but actually more aligned with what artists and collectors have been looking for.”
He is excited with this fresh new concept that brings art closer to more people. “My hope is that the audience comes to appreciate this new way of acquiring artworks. It’s transparent, pure, and honest — and I believe that’s exactly what makes it sustainable, moving forward.”
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