Wednesday, February 17, 2010

UNCLAIMED VASES CLAIM HIGH PRICE

Cloisonne vases
A matching pair of cloisonne vases was among hundreds of unclaimed items abandoned in a Connecticut storage facility and put up for auction on Jan. 30. The vases, estimated to bring about $2,000, auctioned for $52,900. Most of the proceeds went toward paying storage bills. A London bidder and a member of the audience fought for the vases until the London bidder bowed out. So the vases went to the person bidding live at the Nest Egg auction in Meriden, Connecticut.

10 comments:

Anonymous said...

MOST of the proceeds went to paying for the storage bin, come on, almost $53,000, really?

Anonymous said...

Can we get more information on these vases? My sister collects these types of items and additional information would be helpful to her.

Anonymous said...

I'd also like more information on these vases, especially age and any markings.

Anonymous said...

Yup. More questions than answers. Why did the vases go for so much?
Most of the proceeds went to pay storage bills? Show me the storage company that lets a bill go that high and I'll show you a Harvard Business School study on stupidity.
And wouldn't it have been nice to find out what happens to the excess money when items net more than the storage charges?

dwr said...

Could you please tell us how to determine that these vases are so valuable? Is it the mark on the bottom or the intricacy of the cloisonne wires or some sign of their age? Ebay has items of cloissone from $2.99 to $2,800. How do we know the difference? Thank you!

Anonymous said...

Yes, more info would be nice. How tall are the vases? About how old? Probable country of origin? How were they described in the auction info? Was the successful bidder an individual or institution? Any info on what the new owner thinks about the vases' age and origin?

Maggie said...

This is the press release from Nest Egg Auctions.
MERIDEN — A pair of rare cloisonné vases abandoned due to unpaid storage fees in Oxford, CT, set a new auction house record when they sold for $46,000 at Nest Egg Auctions here on January 30th 2010.
According to Auctioneer Ryan Brechlin, the gavel price for the lotus blossom vases turned out to be a bit of a pleasant surprise. “They were in with more than 25 storage vaults from a Greenwich CT home.” Mr. Brechlin said. “Our early estimates for the pair were that they might sell for a couple thousand,” he added.
Nest Egg Auctions had been contracted by Joyce Van Lines of Oxford, to sell the contents of the vaults to satisfy storage liens on nearly $50,000 in unpaid fees. “It’s one of those contracts where we just sell what comes out of the vaults,” Mr. Brechlin added. “You never know what might be in there.”
When the vases came up for sale, the auction took on an international flair as a phone bidder telephoned in from London, some five time zones away where it was midnight.
In the crowded auction hall, a southern Connecticut buyer, who had closely examined the vases during the preview period, signaled his intention to make the vases his. Mr. Brechlin opened the bidding at $300 and the price soared, moving quickly as he shifted to $50, then $100, and then $500 bid points. Both the Connecticut buyer, and the man in London showed no sign of dropping out. Bid points went to $1,000 and finally to $2,000 until the live bidder triumphed at a price of $46,000.
The crowd, many who had been holding their breath as the bidding soared higher, gave Mr. Brechlin a standing ovation and cheer as he brought the gavel down on the sale.
“That’s the highest price for a single item this company has had at live auction,” Mr. Brechlin said noting other items in sealed-bid auctions have sold for more. Also, the total receipts for the auction of the Bill Brinley Circus Memorabilia Collection went higher – in excess of $100,000. “We do everything in our power to get our clients top money,” Mr. Brechlin noted.
With the buyer’s premium the total price for the vases ended up being $52,900.
Mr. Brechlin speculates that the vases were likely from the Ming Dynasty.

Schinamama said...

Wow, thanks for posting these. I just sent a link to my friend. I remember she had 2 such vases displayed in her home. They are from her mothers' estate and originally from France.
I think she will be thrilled.

Terry Kovel said...

the vases came from a group of about 50 storage lockers that had not been paid for recently owned by one company.
Terry

Anonymous said...

And as yet the above legitimate questions regarding the identification of cloisonne have not been answered.

Please, Terry, we would like to know more.