Chinese Jade found in rural Florida closet sells for $100K

Continued strength in antique Chinese Jade was apparent as a Chinese jade ship, teapot and censer sold just shy of $100,000 in Manor Auctions Feb. 19, 2011 Fine Collectibles Catalog Auction. The collection was uncovered in the closet of a rural Florida home, where the consignors had absolutely no idea of the value they had stashed away in the old cardboard box. The Chinese antiquity market has seen a renaissance in value over the past few years, with quality antiques continuing to sell in record territory.

Manor offered a beautiful selection of jade, ivory and Asian antiques in the Feb. 19 auction, but it was a small Chinese jade collection from a single consignor fetching top money. “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 Acquisition representatives evaluated the collection of jade on the tailgate of the consignor’s truck.

The consignor explained how the collection had been passed on through his wife’s family for a few generations and they had it sitting 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 ascertain the opinion of some local dealers. A week or so later, the consignor called Manor to explain he had cash offers in the $1,500 to $2,000 range.

Manor representatives stated they would beat the offers if he wanted to sell the collection outright, but highly recommended he send the collection to auction and allow collectors from around the world to determine the true market value through competitive bidding. The consignor agreed, and the collection was contracted for auction.

By sale day there was great anticipation of the Chinese jade lots. With collectors from around the globe competitively bidding by Internet, absentee and telephone, 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 fetching $18,000, followed by the Chinese white Jade Teapot at $12,420, the carved Chinese Jade Ram at $6,210 and lastly the surprise of the night a Chinese Jade Ship at $57,500. Combined with a few other lots and the six piece collection, the final collection tally realized just shy of $100,000.

“The results of the Chinese jade lots tie in closely with recent trends in the Chinese antiquities market," Mason said, "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.”

Along with specialists in Chinese antiques, Manor maintains full-time divisions dedicated to fine jewelry & diamonds, timepieces, coins, original art, militaria, documents and glass. Manor is always seeking consignments of single items or complete collections for upcoming auctions. Contact Manor Auctions for a no cost consignment consultation. Manor has offices throughout Florida and Georgia, with representatives available nationwide to meet with you at 850-523-3787.

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