18/07/2024 Latest News
An intense international bidding war at a north Norfolk auction house has seen a 12th century Chinese stoneware dish sell for £120,000 – 200 times its pre-sale estimate of £500-£600.
A crowd of online, in-room and phone bidders from China, Malaysia, the UK and continental Europe all vied to buy the Southern Song dynasty celadon lobes brush washer at Keys Auctioneers in Aylsham, with a buyer from Italy eventually winning. With buyer’s premium, the actual price paid will be just over £150,000.
The object of the intense bidding was a 15cm mallow flower form dish with a translucent blue-grey glaze. The dish dates from the Southern Song dynasty (1127-1279), a period which saw technological advances in ceramics which are much sought-after by collectors.
The piece came from a Norfolk estate and was among a number acquired by a family member in Hong Kong in the 1930s. It was one of four Song dynasty pieces in Keys’ monthly Antiques, Pictures and Collectables Sale; the other three all sold close to their pre-sale estimates.
Keys ceramics expert David Broom said, “We knew this dish would be of interest, because it features one of the most prized glazes of the Sing dynasty, but no-one could have predicted the intense bidding war which occurred once the sale got under way.
“Even though the dish was slightly marred by a crack to its well, this did not put off a group of very determined buyers, who took the bidding through 237 bidding increments before arriving at the hammer price of £120,000.”
This is not the first time that an intense bidding war has broken out over a Chinese piece at Keys. In 2022 a small Chinese lacquered box sold for £63,000, many times its pre-sale estimate of £30-£40.
Keys was one of the first auction houses in the UK to develop its own live online bidding platform, which has enabled it to appeal to buyers all around the world, which the auction house says is a big reason keys has such a strong reputation when it comes to selling oriental items.
“We spent two years developing our KeysLive online bidding platform which went live in 2019,” said Keys managing director Tim Blyth. “That, combined with our expertise at digital marketing, is helping us to find enthusiastic buyers around the world who are prepared to spend big to secure items for their collections.
“The market for Chinese items in particular is very strong at the moment, but you still have to know how to attract the right buyers to achieve these kind of incredible hammer prices.”
Keys next sale is their three day Summer Fine Sale, which takes place on Wednesday 24th, Thursday 25th and Friday 26th July.