Short answer. Often, yes — unless part performance saves it. A sale of goods at a price of at least five hundred pesos falls under the Statute of Frauds, so a purely verbal one is unenforceable by suit unless the buyer accepts part of the goods, pays part of the price, or there is a signed note or memorandum.
What the law says
An agreement for the sale of goods, chattels or things in action, at a price not less than five hundred pesos, unless the buyer accept and receive part of such goods and chattels, or the evidences, or some of them, of such things in action or pay at the time some part of the purchase money
Civil Code, Article 1403 — Unenforceable Contracts and the Statute of Frauds. Read the full provision →
The threshold that triggers the statute
Article 1403's Statute of Frauds covers an agreement for the sale of goods, chattels or things in action, at a price not less than five hundred pesos. Your purchase, being above that figure, falls within it. As a starting point, then, a wholly oral sale of goods at this price is unenforceable by action: a court will not enforce it over a party's objection unless the writing the statute calls for exists, or one of the statute's own escape routes applies. The oral agreement is real, but it needs more than spoken words to be enforced in court.
Part performance takes it out of the statute
Unlike some clauses, this one has built-in exceptions the statute itself states. The requirement of a writing does not apply where the buyer accept and receive part of such goods and chattels, or where the buyer pay at the time some part of the purchase money. So if you took delivery of some of the goods, or paid even a portion of the price, the sale becomes enforceable despite being oral. These acts of part performance supply the reliability the statute otherwise seeks in a signed writing, confirming that a genuine sale really was made.
The auction memorandum exception
The clause also recognizes sales at auction. When a sale is made by auction and the auctioneer enters in his sales book, at the time of the sale, the amount and kind of property sold, the terms, the price, and the names of the purchaser and the person on whose account the sale is made, that entry is treated as a sufficient memorandum. It stands in for a contract signed by the buyer. So auction purchases over the threshold are handled through the auctioneer's contemporaneous record rather than a separately signed writing from each bidder.
If nothing was delivered, paid, or written
Where none of these applies — no goods received, no money paid, and no signed note or memorandum — the oral sale is unenforceable by suit, and evidence of it cannot be received to compel performance. Even then the contract is not void, and it can still be ratified, as the article provides, for example by a party's failure to object to evidence of the sale in court. The practical point is that a large oral purchase becomes solid the moment part of it is performed, or the terms are put in a signed writing.