Chinese jade collection found in closet earns $100K at auction

Chinese white jade carved ship, $57,500. Manor Auctions image.

TALLAHASSEE, Fla. – Continued strength in Chinese antiques was apparent as a carved jade ship, teapot and censer sold in total for nearly $100,000 in Manor Auctions Feb. 19, 2011 Fine Collectibles Catalog Auction. The jade collection had been sitting uncovered in the closet of a rural Florida home. Its owners had absolutely no idea of the value of the goods they had stashed away in an old cardboard box.

“The sale of this jade collection is a true testament to the importance and value of auctions, especially in these tough economic times, as sellers may be more vulnerable to selling their valuable collectibles privately at less than market value,” said Malcolm Mason, president and chief auctioneer of Manor Auctions.

Meeting under a street light on a cold December evening in a McDonald’s parking lot, Manor Auctions’ acquisition representatives evaluated the collection of jade on the tailgate of the consignor’s truck. The consignor explained how the collection had passed down through his wife’s family for a few generations and that it had been stored in a closet for the past 30 years.

Knowing nothing about jade, the consignor opted to hold the collection back from auction so that he could obtain the opinions of some local dealers. A week or so later, the consignor called Manor to say that he had cash offers in the $1,500-$2,000 range. Manor representatives replied that they would beat the offers if he wanted to sell the collection outright, but highly recommended he send the collection to auction so collectors from around the world could determine the true market value through competitive bidding. The consignor agreed, and the collection was consigned to auction.

As the sale date grew closer, Manor noted extraordinary pre-auction interest in the antique Chinese jade. With collectors from around the globe competitively bidding online through LiveAuctioneers.com, absentee and over the phones, the jade lit up the room as each piece crossed the auction block. Back and forth, the Internet and telephone bidders slugged it out. First up was a Chinese white jade censer that fetched $18,000 (all prices quoted inclusive of 17.5% buyer’s premium), followed by a Chinese white jade teapot at $12,420. A Chinese carved jade ram made $6,210 and led the way for the surprise of the night: a Chinese carved jade ship that sailed to a winning bid of $57,500. Combined with a couple of other lots, the 6-piece collection realized just shy of $100,000.

Mason remarked: “The results of the Chinese jade lots tie in closely with recent trends in the Chinese antiquities market, which indicate strong global collector interest and continued record results for the near future. Globally [at auction], the Chinese antique market is producing surprising results, with many pieces far exceeding pre-auction estimations.”

To contact Manor Auctions, call 850-523-3787 or e-mail consign@manorauctions.com.

View the online catalog for Manor’s Feb. 19, 2011 auction, complete with prices realized, at www.LiveAuctioneers.com.

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