Bonhams sets new auction record for Chinese porcelain
A rare 18th century Chinese vase has sold for more than 12 times its estimate at a Bonhams Hong Kong auction.
The Fine Chinese Ceramics and Works of Art sale was topped by the blue and white garlic-mouth vase, dating from the Yongzheng Period of the Qing Dynasty. The moment it hit the auction block, the vase was the subject of "frenzied" bidding as collectors in the room and on the phones scrambled to acquire it.
The price escalated in a matter of seconds, soaring past its pre-sale estimate of HK$6,000,000-8,000,000. It was eventually sold to a private collector on mainland China, for a stunning price of HK$76,280,000 (US$9.8 million) – making it the most expensive piece of Chinese ceramics ever sold at auction by Bonhams in Hong Kong.
"It was a triumph for the global Chinese art department that this magnificent vase was sourced by Bonhams US, sold in Hong Kong and bought by one of our regular global collectors," said Dessa Goddard, Vice President and Director of Asian Art at Bonhams.
Further highlights from the sale included an Imperial pale green jade archaistic vase, originating from the Somerset de Chair Collection, which sold for HK$19,160,000; and an Imperial white jade vase and cover which achieved HK$10,600,000.
Each far exceeded its top estimate, as did both a rare Imperial lacquered and enameled Yixing stoneware teapot and cover which brought HK$ 3,040,000, and an Imperial famille rose turquoise-ground vase which realized HK$5,440,000.
"We are delighted with the highly successful results, demonstrating the continuing strength of the Chinese art market for the finest and rarest objects," said Asaph Hyman, Director Chinese Art.
"This auction was a fitting end to an impressive year of consistent high prices and fine objects offered at our prestige Hong Kong permanent year-round auction gallery," added Colin Sheaf, Chairman of Bonhams Asia. "We look forward to an equally productive and expansive series of top quality auctions in Hong Kong in 2015."
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