Filed under: Auctions
Last year one of the most expensive things sold at auction was an 18th century Chinese porcelain vase which was sold for £43 million ($69.3 million) at Bainbridge's Auctions (£51.6 million after the buyers premium). The vase was only estimated to sell for £1.2 million at the small auction house but fierce bidding among Chinese would-be buyers drove up the price. The vase sold to a Chinese bidder who turned up to bid on behalf of an undisclosed buyer. But now the story continues with a new article from the Telegraph that says that buyer has a case of cold feet. Some say that the Chinese bidder, described as a wealthy industrialist had lost out on a similar auction and may have leaped before he looked. Or he could still be gathering money to pay for the vase.