Chinese vase sells for £4.8m after antiques valuation of up to £10k
An antiques valuation of around the £10,000 mark was placed on a vase that sold for nearly £5 million.
A Chinese vase has gone under the hammer for nearly £5 million after only having an antiques valuation of around £10,000.
The item - a blue and white Dragon jar from the Qianlong era, which began in the 1700s - was sold for £4.8 million in San Francisco and was purchased by a China-based bidder.
Explaining the auctioneers' low pre-sale estimate, Dessa Goddard, vice-president and director of Asian works of art at Bonhams, said the company thought it best to err on the side of caution.
She added: "We are elated that the jar achieved such a spectacular price. Its sale provided a fantastic slice of auction drama that our clients and staff will remember for many years to come."
This comes after a Chinese vase found in a London house clearance fetched £43 million when it went up for sale last month after it had an antiques valuation of just over £1 million.
Posted by Lisa Marriott