A Chinese vase appraised at £500 to £750 has sold for £11 million in New York.
By Malcolm Moore, Shanghai 12:00PM GMT 25 Mar 2011
The vase came from the collection of Dai Run Zhai, a Chineseman who became New York's most distinguished art dealer after moving to America in 1950More than seven bidders fought for the vase, which was dated by Sotheby's, the auction house, to the early 20th-century.
However, Sotheby's said there had been "a healthy debate" about the dating of the vase, with some collectors believing it may be "significantly" older.
The eventual winner made his bid anonymously and over the telephone.
The vase was delicately painted with a scene of birds and flowers painted in gold and "famille rose", or a soft palette of colours. The famille rose style was first introduced in about 1720, during the reign of the Kangxi emperor.
The vase came from the collection of Dai Run Zhai, a Chinese who became New York's most distinguished art dealer after moving to America in 1950. Under his Americanised name, JT Tai, he amassed one of the world's most important collections of Chinese art.
Other pieces from that collection have already caused sensations. Last October, a Qing dynasty gourd-shaped vase, acquired by Mr Dai in 1971 at a London auction for £1,680 was sold for $32.15 million in Hong Kong to Alice Cheng, the sister of another famous art collector and one of China's richest women.
The frenzy for Chinese vases is expected to continue in Hong Kong in the Spring, when another 18th century Chinese imperial vase goes under the hammer.
The Falangcai vase with golden pheasants, which is again being sold at Sotheby's, is the centrepiece of a sale from the Meiyintang collection, one of the world's most important private collections of Chinese ceramics. The vase has been appraised at £14 million.
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