Wednesday, March 31, 2010
DON’T JUDGE BY ESTIMATED AUCTION PRICES
A whopping $1,082,500 was paid for a 19th-century Chinese jadeite censer, 6 1/4 inches high, at the March 22 Doyle auction of Asian art in New York. Surprising, since the estimate was $6,000 to $9,000. Other shockers: A pair of celadon screens ($20,000-$30,000) sold for $194,500. And a blue and white porcelain vase ($10,000 -$15,000), 18 inches high, brought $53,125. Many other pieces were also estimated way lower than the purchase price. Many of the buyers were Chinese. Chinese buyers are paying high prices at many sales because they have new wealth. Perhaps the Chinese value these works of art more than traditional American and Continental buyers do.