Friday, 12 November 2010

Found Vase Sets $83 Million China Art Record in Auction Battle

43 million pounds worth vase.

The vase had been discovered during a routine house clearance in the suburb of Pinner in London. Rather than being offered at the central salerooms of Christie’s International or Sotheby’s, it was sold by Bainbridges, a west London auction house, with an estimate of 800,000 pounds to 1.2 million pounds. It made 40 times as much, at a hammer price of 43 million pounds. After a Bloomberg preview report, dealers traveled to the provincial sale from Asia. Others were in town for Asian Art in London’s schedule of gallery exhibitions, shows and lectures.

“Everyone was excited about this vase,” David Baker, one of the 37 dealers exhibiting at Asian Art in London, said in an interview. “It’s an exceptional Imperial piece in perfect condition with the most amazing reticulated decoration. It’s exactly what Chinese buyers want at the moment.”

Source: Bloomberg

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