Chinese bidders drive up jade prices

CHINESE antiques collectors, desperate to reclaim their national treasurers, led the bidding and drove up prices as 70 oriental works of art in jade and other precious and semi-precious stones went under the hammer in the Cotswolds last week.

The artefacts had all been amassed by a single enthusiast during the 1950s and 60s, and had been bought from the likes of Liberty and Wartski, and carried modest estimates that would not startle British collectors.

But when they were put to auction at the selected antiques sale of Moore Allen & Innocent in Cirencester on Friday, March 5, there were eight oriental art dealers in the room and as many again on the telephone lines from Beijing, Shanghai and Sichuan, where it was late into the evening.

The top price in the section was made by a pink crystal and jade pendant, carved as a bunch of fruit, which sold for £5,600.

A carved jade panel depicting flowers and measuring 5.4cms by 3.4cms made £4,600, while a mutton fat jade panel of birds amongst blossoming foliage, 8cm wide, sold for £4,000.

An amber carving of fingered citron – also known as Buddha’s fingers – made £3,800, a 13cm-high pale green jade vase bearing the label Chien Lung AD 1736 – 1795, achieved £3,600, while a spinach jade belt buckle measuring 9cm wide sold for £3,400.

After the sale, auctioneer Philip Allwood said: “Many of these treasures would have been bought by British collectors during the colonial period, when most Chinese people were relatively poor, and eager to sell.

“Now China’s economy is one of the biggest and fastest-growing in the world, and there are a lot of collectors who would like to see these artefacts returned to China, and are willing to pay good money to make this happen.

“Anyone who has good quality oriental art or jewellery could do worse than put them to auction. Now would seem to be an excellent time to sell. Jade is red hot at the moment, and the power of the internet means that a provincial saleroom in the Cotswolds can display its wares all over the world.”

While oriental artefacts commanded four of the top five prices of the day, the sale list was still topped by a piece of European furniture.

A pair of 18th century German Rococo walnut and carved giltwood corner cabinets, standing at an impressive 2.7m tall, sold for £11,000 against an £8,000 to £12,000 estimate.

Elsewhere in the sale, a 12-bottle case of 2004 Chateau Lafite Rothschild led the prices in the wines section at £3,700, closely followed by a 12-bottle case of 2004 Chateau Mouton Rothschild Pauillac, which made £2,100.

Back in the furniture section, an 18th century painted oak hall chair provided the surprise of the day. With its back painted as a crowned shield held aloft by two lions, and carrying the motto Non Sibi Sed Patriae – Not for Self, but Country – sold for £2,500.

Strong prices throughout the day meant the sale was even more successful than the corresponding sale the previous year, making £145,000.

The next Moore Allen & Innocent sale will be held on Friday, March 19, when auctioneer Philip Allwood will be selling treasures from Cirencester, as part of the Flog It TV series.

A pink crystal and jade pendant, carved as a bunch of fruit, which sold for £5,600	A carved jade panel depicting flowers, which made £4,600
A mutton fat jade panel of birds amongst blossoming foliage, which sold for £4,000	An amber carving of fingered citron – also known as Buddha’s fingers – which made £3,800
A pair of 18th century German Rococo walnut and carved giltwood corner cabinets, which sold for £11,000	An 18th century painted oak hall chair carrying the motto Non Sibi Sed Patriae – Not for Self, but Country – which sold for £2,500