Michaan’s Fine Asian Works of Art auction on June 23, 2014 was a resounding success, raking in over $2,400,000. A variety of Chinese ceramic plaques wowed at auction, but, the undisputed star of the day was an offering of two famille rose porcelain plaques listed as lot 7435 ($20,000-30,000). The Republic period pieces by Wang Qi were a rare find from the artist, but who saw this sale price coming – ? After a rapid succession of phone bids, things wrapped up at $463,000; a total that exceeds the high estimate well over 15 times!
I spoke firsthand with the consignor and her story of the plaques is just as cool as their result. Earlier this year she purchased the plaques at an estate sale for $2,000. She eventually brought them to a dealer who offered to pay her $5,000 for the set. Deciding to do a little more detective work, she brought them to Michaan’s free Wednesday appraisal event. Asian Art Specialist Mr. Harry Huang knew he had pieces of quality in his midst and the deal was done. The story ending with an overall return of 231 times the original investment? The consignor, who attended the auction live, expressed that she thoroughly enjoyed the moment and is very happy with the result.