17 Jun 2019
March 22, 2017 - Filed under: Auctions — Richard

Two pots that had previously been used as tea caddies turned out to be 200-year-old Chinese pieces.

The tea caddies had been displayed on the windowsill of the owner’s house for the last 40 years. The items were spotted when an antiques expert was called to conduct a valuation for other items in the home. However, when he spotted the pair of ornaments, he realised that they could be valuable.

The valuer, from Toovey’s Auctioneers in West Sussex, did not want to place the estimated value of the pots too high, as there were no identifying markings on the underneath. The pots were actually porcelain caddies from the Qing dynasty, with an estimated value of £1,000. However, bidders from the Far East started a bidding war, which resulted in a buyer from Hong Kong paying £132,000 plus buyer’s fees of £33,000, taking the total paid to £165,000.

Although the owner had thought that the pots were extremely pretty, they had no idea that the items were valuable until the valuer asked for a closer look. Tom Rowsell from the auctioneers, stated that the shocking result of the auction was an indication of the Chinese market currently. The bidding took place between seven bidders, none of whom had seen the items.

Collectors often spot items that they want to display as ornaments, often to act as décor to enhance the impact of other antique furniture like antique coffee tables. Buying from an antique dealer can save money, as there is no buyer’s premium.

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