The recent Christie’s auction of the Virata family’s Asian art collection netted a whopping $25.3 million (P1.25 billion)—more than twice its estimated presale value, according to a statement released by the British auction house.
The “Marie Theresa L. Virata Collection of Asian Art: A Family Legacy” went under the hammer March 16 in New York, and consisted of exquisite classical Chinese furniture, huanghuali and zitan pieces, from the Ming and Qing dynasties.
The 82-lot Virata collection was accumulated over four decades by three generations of the affluent Virata family, beginning with matriarch Marie Theresa Lammoglia Virata, Bebe to family and friends, who died in 2015.
The proceeds from the sale will benefit charitable organizations for poor children in the Philippines, and cancer research, according to the statement. The museum housing Bebe Virata’s Philippine art collection will also be funded.
The centerpiece of the collection, an 18th-century zitan luohan bed, estimated between $2-3 million, was sold for over $3.6 million.
However, it was a “very rare” huanghuali incense stand from the 16th-17th century that topped the sale. Estimated between $400,000-600,000, it sold for nearly $5.85 million.
In her Instagram, Asia’s Best Female Chef 2016 Margarita Fores, who was in the Big Apple, posted a dish from the menu she prepared for the Christie’s auction.
Bebe Virata, born in Manila to Italian parents, was the widow of Leonides Sarao Virata, an economist who served as Ferdinand Marcos’ commerce secretary from 1969 to 1970. He was later chair of the Development Bank of the Philippines.
Bebe Virata was the sister of Ana Maria “Bambi” L. Harper, former Inquirer columnist and president of the Heritage Conservation Society of the Philippines.
Virata’s distinguished collection was acquired owing to the guidance of, and friendship with eminent New York art dealer Robert Hatfield Ellsworth. Her collecting legacy was continued by her children, son Luis (“Buboy” ) and daughter Giovanna (“Vanna”), and daughter-in-law Elizabeth “Libet” Cu-unjieng.
Virata reportedly started collecting antiques in the 1950s, when she would actually join archaeological digs. The family is said to be planning to use the money to support many worthy causes, including cancer, helping abandoned or abused children, and possibly putting up a museum for the matriarch’s other collections of Philippine art and artefacts.