Looted Chinese Qianlong vase finally sells for $40m in private deal

paulfrasercollectibles

2015-06-26 13:08:03

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Looted Chinese Qianlong vase finally sells for $40m in private deal

The looted Qianlong vase's sale price was cut after a Chinese buyer failed to pay

Alooted vaseproduced forChina's QianlongEmperor (1711-1799), whichmade headlines in 2010, has finallysold for up to 25m ($40m) to an anonymous Asian buyer.

Qianlong looted chinese vaseAuction houses have faced problems with selling Chinese artefacts in the past

The vase was originally sold to a Chinese buyer, who placed a Chinese art record breaking bid of 43m ($69m) ata 2010 auction. However,he thenrefused to pay the $8m buyer's premium and the sale was cancelled, shattering the dreams of Tony Johnson and his mother, Gene, who had inherited the vase from a friend.

The Chinese billionaire's move is believed to have been deliberate, in an attempt to prevent the vase's sale. It is one of many objects looted from Beijing's Imperial Summer Palace in 1860, as British and French troops entered the cityat the close of the second opium war.

Bonhams was forced to issue an apology to Chinese authorities in November 2012, after similarly looted jade items were pulled from its auction. Another auction in December 2012 was condemned by a Chinese official, but went ahead regardless.

Despite Bonhams' issues with selling these objects, its own expert Colin Sheaf - one of the world's leadingauthorities on Asian art - is believed to have been instrumental in brokering the 25m ($40m) deal. Created for the Chinese emperor Qianlong, the vase is considered one of the finest pieces of porcelain ever produced in China.

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