Saturday, November 13, 2010

Chinese Vase Found in Attic Auctioned For $83M

Chinese Vase Found Auctioned For $83M. It's the ultimate steal and what every person dreams about when searching through garage sales, antique stores, and flea markets. The Chinese Vase was found in an attic that a family was clearing out when a loved one passed away.

This is yet another indication on how the Chinese art market is exploding. The vase sold at an auction in London for the equivalent of $83 million - about 20 times the presale estimates. The 18th century porcelain vase is very rare.

It's believed that the vase had been in the family since the 1930's, and that Chinese Art has been found in London after British and French troops looted the Beijing Summer Palace in the 1800's.

As the Chinese economy booms, wealthy buyers want to purchase their own artifacts. The market is hard to pinpoint as it is expanding so rapidly.

This is the most expensive piece of Chinese artwork to be sold, beating a Song Dynasty scroll which was sold this summer for $64 million.

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