A Chinese vase recently marketed at auction in Britain has brought on a sensation. The vase is officially the most costly ever, selling for 53 million pounds, or around $85 million in American dollars. The vase had been in storage for decades, and it dates to the later 18th century.
In attic there was a Chinese vase
Based on the Telegraph, there was a woman and her son who had the vase left to them by her brother while they’re anonymous after selling it. The woman found the vase in her attic room after receiving it from her brother who got it from his uncle. The uncle went to china as an "adventurer" and returned with the vase. The vase just sat somewhere getting dusty. The woman then put it on her bookshelf. Eventually she had it appraised, and it was valued at around 800 pounds, or about $1,300 U.S. The woman was told that the vase was worth much more than that after she took it to the auction house Bainbridges. The vase was suspected to be from the royal collection of the Qianlong emperor of Hongli as it was from the Qing dynasty. It will go back to the 18th century in how old it is. It was probably fired in the imperial kilns as it has the royal seal in it.
Uncommon Chinese vase rumors fly
Everybody started talking about it. This led to an auction where there were a ton of Chinese collectors ready to buy the vase. It took a long time for the bidding to end. It was a 30 minute round of bidding. More than 53 million pounds or $85 million were paid for the vase within the end. It was bought by a Chinese industrialist who wasn't going to miss out on buying an uncommon Chinese vase following missing out on another one earlier this year, reports the Daily Mail. The gavel was shattered while the auctioneer, Peter Bainbridge, banged it so hard. It costs a lot to get uncommon Chinese porcelain. It is valuable to many.
Next we collect some taxes
The auction commission cost the family about 9 million pounds. Also, 12 million pounds had to be paid to taxes. The auctioneer doesn't typically deal with things more than 500 pounds which made this a great find.
Articles cited
Daily Mail
dailymail.co.uk/news/article-1329308/53m-Chinese-vase-kept-wobbly-bookcase-insured-just-800.html?ito=feeds-newsxml
The Telegraph
telegraph.co.uk/culture/art/artsales/8129446/Chinese-vase-sale-vendors-to-receive-12m-tax-bill.html
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