Economic Bizarrity: Antique Chinese porcelain a hot commodity?
Posted by Paul Thompson on August 24th, 2011
In a time of economic uncertainty, one thing is for sure: antique Chinese porcelain is a hot commodity. In the last year, auction results have reached astronomical highs, with some pieces fetching fetching prices hundreds of times their estimates.
Here’s a look at 5 fabulous examples that recently sold to some very lucky buyers, according to Carlton Hobbs:
A set of four 18th-century Chinese Porcelain Vases were sold in Christie’s International’s “Exceptional” sale on July 7, 2011. The 4 foot-tall vases, painted with Buddhist and Taoist designs, were sold to Steve Wynn of Wynn Resorts for $12.8 million, and are intended to adorn the Cotai Resort Hotel, his new resort in Macau, China.
Deal: The 1740 Qing vase, found during a house clearance
On November 11, 2010 a Quianlong-period vase, circa 1740, sold at Bainbridges in London. The smaller auction room reached a sky-high hammer price of £43 million– over 40 times its estimate. The vase, standing just 16-inches tall, was discovered during the clean-out of a north London attic and, according to family lore, had been stolen from an imperial palace in the 19th century.
This celadon-glazed carved baluster vase (1736-1795) with a Qianlong seal mark sold for $7.9m
Asian buyers were present in full force at Christie’s sale of Magnificent Qing Monochrome Porcelains and Earlier Works of Art from the Gordon Collection on March 24, 2011. A celadon-glazed carved baluster vase stole the show when a private Asian buyer bought it for $7.9 million. Qianlong-period porcelain is in high demand among Chinese collectors and this imperial ware is a prized example.
In November 2010 the Asian Art in London event saw the selling power of imperial Chinese porcelain. A vase made in the imperial palace, Beijing, during the reign of the Emperor Yongzheng sold for around the asking price of $25 million by London-based dealer Eskenazi Ltd. Western collectors are being pushed aside as Asian connoisseurs compete for these “trophy objects from their heritage.”
Estimated at 10-15 thousand dollars, a blue and white porcelain Meiping vase with Qianlong Mark sold for $7.7 million– 600 times its estimate! The vase, sold by Bonhams in San Francisco on December 13, 2010, was conservatively dated circa 1905, however bidders determined it was made in the 18th century (circa 1760)–with a hammer price to prove it. It was purchased by mainland Chinese collectors, again demonstrating the high demand for imperial porcelain.
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Tags: Antique Chinese Porcelain, Chinese Porcelain, Commodity, Hot Commodity