Pinner Qing dynasty vase finally sells for £25 million

wikicollecting

wikicollecting

2015-06-26 10:44:26

Pinner Qing dynasty vase finally sells for £25 million

The most hotly contested Chinese artefact in auction history, the Pinner Qing dynasty vase, has finally sold following a lengthy legal battle.

An elegant Chinese vase featuring gold banding and a fish motif, the Pinner vase bears the imperial seal and thus is thought to have originated from the imperial kilns of the Qing dynasty, made for the Chinese emperor Qianlong between 1736 and 1795.

In 2010, the vase was consigned to an auction by the family of an explorer, whom they believed encountered the vase during his 1920s and 1930s travels in China. It is considered one of the finest pieces ever made in China.

After furious bidding, Bainbridge’s auction house brought down the gavel at a price of £43 million. This broke the record for a piece of Chinese art work sold at auction, as well as beating the previous record for Chinese porcelain by a staggering £20 million.

However, a year later, it became apparent that the mysterious buyer was not paying up. The Chinese billionaire industrialist who had placed the winning bid refused to pay the 20% auctioneers fees on top of the £43 million, which would have taken the total up to £53.1 million. Despite the auction house doing everything they could to negotiate, the situation remained at a stalemate.

Finally, the dispute has been settled, and the vase re-sold to a new bidder privately, through Bonhams auction house. The consigner is receiving £25 million for the vase, a hefty step down from the price they were expecting to receive after the 2010 sale.

 

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