What you see: A 10-inch-tall Chinese cloisonné bottle vase, initially believed to date to the 18th or 19th century, and estimated at $400 to $600. In April 2017 it sold for $812,500 at Quinn’s Auctions, via the iGavel online platform.
How did you arrive at the $400 to $600 estimate? “The first thing we did was look at the condition. It was heavily restored,” says Matthew Quinn, executive vice president of Quinn’s Auction Galleries. “We try always to have super-conservative estimates. We didn’t know the full extent until we watched it play out. We thought the vase might be 18th century. We didn’t know it was 14th century.”
Why did you describe the vase as dating to the 18th or 19th century? “It looked like it had sufficient age to fit that category. We were still wrong. That’s the beauty of the marketplace,” he says, laughing.
What marks it as being from the 14th century? “The form more than anything. The bottle form, and the colors of the enamels. We were told it’s from the late 14th or early 15th century. The bottle form was only done then, and it wasn’t copied until late in the 20th century. And the yellow and red–those particular colors were only used in that time frame,” he says.
Were you the auctioneer during the sale? “We sold it through iGavel, an online-only site,” he says. “Bidding comes in on iGavel every five minutes toward the end. It mimics what goes on in a sale room. With the five minute extensions, it took a long time to sell the vase–an hour, an hour and a half at least. It was fascinating to watch it go.”
Where were you as you watched the sale? “I was on the road. I expected it to do OK. A minute to close, it was at $12,000, then $15,000. I thought, ‘Eh, it’s doing OK.’ It got close to close. Then it was $30,000, and it went pretty handily up to $50,000. I called Lark [Mason, founder of iGavel] at that point. It kept going and going and going. It was wild. Bidders were taking two to three minutes to place each bid. They were taking their time, not like the high pace of an auction room, where the bids come in two or three seconds. I’m not sure if it was part of their strategy or not.”
Did the vase set an auction record? “We haven’t been able to find much [corroborating information],” Quinn says. “Lark thought it might have been in record territory for a bottle vase, but there are so few of them [reflected in auction archives] we weren’t able to find much. Rarity is not always a good thing. Just because it’s rare doesn’t mean it’s valuable, but in this case, it was.”
What else makes this vase interesting? “Everybody wants to know how we find these treasures. You find them in the places you least expect. This vase was stuck up in a barn, in the back of the butler’s pantry,” he says, explaining he was called in to sort through the contents of a family farm to prepare it for sale.
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Image is courtesy of Quinn’s Auction Galleries.