Chinese Vase - A World Record at Auction

Last week the regional auction house outside of London, Bainbridges Auction house sold a Chinese vase for an auction record of $85 million (including buyers premium and tax).  It seems the highest priced item Bainbridges has ever sold was a Ming bowl for $185,000.000.  The Qianlong vase, (dating from around 1740) was estimated to sell for $1.3 million to $1.9 million.

The previous record for a Chinese work of art sold at auction was for $64 million at Beijing's Poly International Auction Company this past June. It also more than doubles the record for Chinese porcelain, set at Sotheby's Hong Kong sale in June for $32.4 million.

Not bad for a local/regional auction house who primarily sells estates property..

The London Telegraph reports

The astronomical price was reached due to the rising demand for Imperial associated trophies among Chinese collectors.

Commenting on the sale, Ivan Macquisten, editor of Antiques Trade Gazette, said: “Chinese art is the biggest bidding market in the art world right now.

“The most extraordinary thing about it is that it wasn’t sold by the likes of Sotheby’s or Christie's, this was sold at a little auctioneers operating out of a warehouse in Ruislip.

“He (the auctioneer) will certainly be able to retire on the proceeds he’s made on his fees from this – this is lottery money in fees."

The hammer fell at £43 million but the total price, including commission and VAT on the commission, was £53,105,000.

Peter Bainbridge, director of the auction house, said: “I’m thrilled that a provincial auction room can show what it can do.

“I’m also delighted to have handled such an astonishing work of art. I didn’t quite realise how exciting it was.”

To read the Telegraph article, click HERE.