YSL Sale and Chinese Complications

During last weeks YSL sale at Christie's in Paris were two lots, each an animal head looted from a Chinese Zodiac water fountain from the summer imperial palace. The animal heads, of a rabbit and a rat were reported to have been stolen in the late 19th century. The two articfacts were cleared by a French court to be sold at the YSL auction against the wishes and demands of the Chinese government.

The London Indepent is report the figural animal heads which brought $20 million apiece at the sale and sold to a phone bidder, were part of a scheme to sabotage the sale. The phone bidder, cleared by the Christie's staff was Cai Mingchao, a wealthy Chinese art dealer and expert in Chinese artifacts admitted that he bid with the intention of not paying for the heads.

The Independent states Mr Cai said: “What I need to stress is that this money cannot be paid. At the time, I was thinking that any Chinese would do this if they could ? I only did what I was obliged to.”

Beijing failed last week in legal and diplomatic efforts to block the sale of the artifacts, which were part of an auction of the vast art collection assembled by the late fashion designer Yves Saint Laurent. The bronze busts were originally among 12 animal heads that decorated a fountain at the Imperial summer palace in Beijing. The Chinese government insists that they were stolen by French and British troops when the palace was burned during the second Opium War, in 1860.

Mr Cai told a press conference in Beijing today that he made the final €15.7m bids for each of the animal heads as part of a plan to sabotage the auction, devised by an association devoted to the recovery of looted Chinese art.

It will be interesting to see how this plays out in the courts. To read the very interesting Independent article, click HERE. The NY Times also ran a story on the animal heads and Mr. Cai's acknowleged plan to sabotage the sale. Click HERE to read.