Blog Posts tagged with Art Auctions

Chinese Vase Sold For $18 million

Did Sotheby's Document $18 million Vase Correctly?

Posted: May 11, 2011 06:40 Last Updated: | Joseph K. Levene

A Chinese Vase expected to sell for $800. to $1,200., was sold by Sotheby's New York for an astonishing $18 million on March 22, 2011. Described as an unusual famille rose and gold decorated vase, an Anonymous Sotheby's bidder paid $18 million for this 20 century porcelain. The Chinese Vase was among 300 lots consigned by J.T. Tai and Company, a well-known  Dealer of Chinese Porcelain; the Sotheby's Sale realized $36.3 million and took nine hours to complete. Why did Sotheby's estimate the $18 million Chinese Vase at only $800-$1,200? Sotheby's felt there was no actual...


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