FOUND - Chinese Vase Fetches $873,000
Sale Stuns Owner... Sets New Record for Ireland
The vase (pictured) rocketed past a $900 estimate to fetch $873,000 in under ten minutes.
June 23, 2017
By James Massey, What Sells Best News
DURROW, IRELAND (VIDEO) – Sheppard’s Irish Auction House reports, a vase expected to fetch $900 (€800) has shocked its owner by selling for $873,000 (€740,000) and setting a new auction record for Ireland.
The $873,000 sale, is thought to be the highest price paid at public auction for an Asian art item in Ireland. And while it surprised everyone, it's not the first time everyone's been surprised by such a sale... as you'll see later.
Only $900 Expected by Seller
Reportedly, when auctioneer Philip Sheppard received the vase, he gave it a conservative estimate of $900 - $1,300 (€800 - €1,200), because he couldn't be certain that it had an imperial tie to it. He explained his decision further in the interview with Antiques Trade Gazette.
“If I can’t be certain it’s an imperial piece, then we estimate based on what it’s worth when it’s not. My job is to connect these pieces to the world of experts via the internet. They come and form opinions and that’s what happened here.”
Bidding War Leaves Seller Stunned
When the bidding started with multiple telephone and internet bidders from around the world. The price reportedly rocketed from an opening bid of $450 to $873,000, in under ten minutes.
The Irish Times reported, when Philip Sheppard informed the seller of the results. “His reaction was silence for a little bit and he said to me that his expectation was to get €800 ($900) for it,” Mr Sheppard said.
Treasures Hidden in Plain Sight
Just a few months ago we reported on another vase which surprised us. The vase was expected to fetch $2,000... but it sold for $1 Million in a London auction.
While our treasure reports are literally filled with these types of discoveries. There's something about Chinese porcelain treasures that continues to stand out.
A number of extremely valuable Chinese ceramics have been found in unusual circumstances, and often hidden in plain sight.
Here's some examples (note: prices may vary due to currency exchange rates and/or buyer premiums which may, or may not, be reflected):
- SOLD (VIDEO) - $69 Million for Dusty Chinese Vase Found in Attic at Bainbridges in November of 2010.
- SOLD (VIDEO) - $20 Million for Ming Jar Used as an Umbrella Stand at Christie's in July of 2016.
- SOLD (VIDEO) - $19 Million for Vase Pair Found 'Hidden in Plain Sight' on Mantle at Christie's in May of 2017.
- SOLD (VIDEO) - $2 Million for a $3 Bowl Bought at a Garage Sale at Sotheby's in March of 2013.
- SOLD (VIDEO) - $873,000 for Inherited Chinese Vase thought to be Worth $900 at Sheppard's in June of 2017.
- SOLD (VIDEO) - $850,000 for Antique Chinese Vase Used as Door Stop at Hanson's in July of 2016.
- SOLD (VIDEO) - $800,000 for Rare 'Cracked' Vase found in Home at Toovey's in December of 2013.
The vase featured in this story was sold by Sheppard’s Irish Auction House on June 17, 2017. At the time of publication, the item was still listed on the Live Auctioneers website as lot number 86.
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