A CHINESE vase that was left in storage for nearly 40 years has now sold for a whopping £550,000.
The Qing famille rose vase had been given to the owner’s late father as a payment when he was running a demolition company in south London in the 1980s.
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The vase was kept in the late father’s two-bed, semi-detached house until he passed away.
His son then kept the 12-inch artefact stored away for another 15 years after his father’s death.
Now the 70-year-old owner is celebrating as it was sold at an auction today for 36 times the £15,000 it had been expected to be knocked down for.
The vendor was said to be very emotional upon being told the result and also relieved that he won’t have any financial worries through his retirement.
The twin-handled falancai ruby glazed vase has the mark of the Qianlong Emperor on it, which would date it to between 1735 to 1796.
Hannam’s Auctioneers, of Selborne, Hants, said it was probably of that period and was possibly looted from the Imperial Palace in China during the Boxer rebellion in 1899-1901.
Harry Hannam, from the auction house, said: “He had absolutely no idea of its worth when it was initially consigned. The estimate was a great surprise to him and after I told him the selling price he was very emotional.
“What’s lovely is that he will never have to worry again during his retirement.
“Almost certainly the vase had come from the Imperial Palace in China and was possibly looted during the Boxer rebellion.
“In a market full of counterfeits, the vase was deemed by many to be 18th century and made for the Emperor some time between 1736 and 1795.
“Buyers of Chinese works of art are always keen to buy back important and historical pieces from their past and this vase represents a significant part of it.”
The vase was given in good condition with some minor flaking to the enamelling.
The auction had seven phone bidders competing for the vase, which set a new house record of a hammer price of £520,000.
With fees added on, the anonymous Chinese buyer paid £550,000 for it.
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