Chinese vase was sold 600 times over the price
Chinese porcelain vase meypin sold at Bonhams auction for 7.66 million dollars in the preliminary assessment of a 10 – 15 thousand dollars. This unexpected result provided the buyers, confident that the auction house was wrong, vase dated 1905, and in reality it is much older.
According to experts of the Bonhams, a vase with the seal of the Emperor Qianlong was made in the late epoch of the last Chinese emperor of the Qing Dynasty. However, the bidders came to the conclusion that in fact the vase was made in the mid XVIII century.
(Reuters) – A blue-and-white Chinese porcelain dragon jar has sold for $7.7 million, more than 600 times its mid-range pre-sale estimate of $10-15,000, Bonhams auctioneer said on Wednesday.
Bonhams had conservatively dated the 14-inch jar at around 1905, explaining its relatively modest expectations.
But bidders in San Francisco, at an Asian sale held at Bonhams & Butterfields earlier this week, determined that it was in fact significantly older and more valuable, believing it to be an imperial period piece from around 1760.
“We erred on the side of caution,” said a Bonhams spokesman, who added that virtually every lot on offer, including the dragon jar, was bought up by mainland Chinese buyers.
“We are blown away by it and delighted that it achieved what it did,” the spokesman added.
The auction is the latest example of the huge appetite among wealthy Chinese collectors particularly for imperial porcelain.
Last month a Chinese vase discovered during a routine house sale in a London suburb shocked the art world by fetching $69 million, 40 times its estimate and an auction record for any work of art from Asia.
- Chinese vase fetches record $69 million in UK auction (reuters.com)