Most expensive Amorsolo painting sold at Leon Gallery Auction. Under the Mango Tree, from Nell collection, breaks world record at more than PhP57M

Leon Gallery’s The Magnificent September Auction 2024 last Saturday, Sept. 14, 2024 set a new benchmark, breaking its own world record for the most expensive Fernando Amorsolo painting sold on the market. Under the Mango Tree (1929), from the collection of Edward Joseph Nell, the “Father of Philippine Air-conditioning” who introduced Carrier Incorporated in the country, fetched PhP 57,676,800 (inclusive of buyer’s premium). Nell’s Amorsolo topped the previous world record set by the Peracamps Mango Gatherers (1931), which Leon Gallery, a foremost art establishment in the Philippines,  sold in The Spectacular Mid-Year Auction 2018 for PhP 46.7 million.

The milestone in Philippine art achieved over the weekend was further made special by the fact that Under the Mango Tree has been repatriated to the Philippines owing to the efforts of Leon Gallery director Jaime Ponce de Leon—after almost a century of being in America with the Nell Family. The work was acquired by Edward Nell from Amorsolo himself in 1929, the year the painting was done. There’s a photograph of Amorsolo posing beside his masterpiece in the Nell archives of family photographs; it was taken around the same time Nell acquired the work. This was proof of purchase and authenticity.

“The record-breaking sale of Under the Mango Tree just shows that Amorsolos remain to be the gold standard of Philippine art collecting,” Ponce de Leon said.

Despite the general decline in sales in the art market, particularly in the US, the Leon Gallery team led by Ponce de Leon has remained steadfast in guaranteeing that only the finest in Philippine art are offered the collectors.

“It has been our challenge to ensure that we provide very good lots that will avoid the general art slump. Luckily, we had the privilege of offering some rarities to the market, including this beautiful Amorsolo. Hence, we were able to overcome that fear,” Ponce de Leon stressed. “This is stellar proof that the Philippine art market is alive and well.”

Under the Mango Tree, painted by Amorsolo during the peak of his “Golden Period” when he became the most famous and sought-after painter in the Philippines, has the prerequisite combination of sterling provenance, historical context and pertinence, and lush subject matter—the mango tree was Amorsolo’s favorite subject matter.

These qualities make the masterpiece an ultimate rarity among the Amorsolo paintings that enter the market endlessly. Moreover, the painting, which measures 38″ x 38″, has an unusually square shape. All this combined led to the exceptional result the auction house has just achieved.