Winning Bid On Yves Saint Laurent's Bronzes Was A Protest Not A Promise of Payment

Last week's Yves Saint Laurent art sale generated world record revenue but they may have to take one sale off the books. The much-disputed Qing bronzes which were part of the auction's final sale day were bought by Cai Mingchao, who says that although he placed the winning bid for the two bronze statues he does not intend to pay for them. The statues, one with the head of a rat and one with the head of a rabbit sold for €15,745,000 each. The National Treasures Fund, a group backed by the Chinese Ministry of Culture which seeks to buy Chinese art and antiquities from around the world and bring them home announced Cai Mingchao's identity at a news conference. He is an adviser to the National Treasures Fund and has said that he did his duty as a Chinese citizen by bidding for the pieces.

The Qing bronzes had been severed from a water clock by British and French troops from the Summer Palace in 1860 and many Chinese people saw the bronzes as stolen goods up for sale even though the bronze heads have been bought and sold multiple times since then. The Chinese government protested the sale but the French government ruled that the sale could go forward. According to an article on Forbes Pierre Berge had said he would give back the sculptures for free if Tibet is made free, an offer which did not sit well with the Chinese government.

Bloomberg quotes Christie's Hong Kong-based spokeswoman Kate Malin as saying that the auction house "would work with the buyer and vendor to come up with a solution." Christie's could sue Cai Mingchao to get the money but he is adamant that he will not be paying.