Vase or "V-ah-se"
Do You Know The Difference?
Whenever we encounter a vase, we ask the owner if they know the difference between vase & “v-ah-se”? While they are look a bit baffled, we tell them jokingly, “the difference is about $25 bucks!” A vase is under $25 and “v-ah-se” is over $25.
This tale starts off with a vase found by family members cleaning out a relatives estate over two years ago. Upon the discovery, the item was evaluated by an auction house and deemed worthy to be included in upcoming sale, making it now a “v-ah-se”.
Turns out, the piece is an 18th century Qianlong porcelain vase and the competitive biding was fierce. It generated bids 50 times the estimate and sold for a record breaking $83 million dollars to a Chinese bidder. The story does not stop here. The new buyer reneged on payment and for the last two years the piece and the sale has been in limbo until January of 2013.
In a private sale, brokered by a London based auction company, the piece has changed hands to an Asian collector for $40 million dollars. All sales are final at auction unless the bid is not honored. In that case, alternative methods like a private sale can work out to be beneficial for all parties involved.