Shane Ferro
Art market news and commentary by the staff of Art+Auction

MARKET WATCH: Art market news and commentary by the staff of Art+Auction

Garage Sale Bowl, Originally $3, Sells for $2 Million at Sotheby’s Chinese Ceramics Sale

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You know it’s Asia Week when ridiculous reports of ceramics selling at 10+ times their estimates start rolling in:

An unnamed New York family bought the “Ding” bowl, which is from the Northern Song Dynasty, for no more than $3 in 2007 and displayed it on a mantelpiece with no idea as to its real worth, Sotheby’s said.

After consulting with experts, the owners consigned the bowl for auction. Sotheby’s estimated it would sell for $200,000 to $300,000. London dealer Giuseppe Eskenazi paid $2,225,000 including commission for the bowl, which measures just over five inches in diameter, at the auction in New York City.

The frenzy is always fun.

Shane Ferro

(Image: Sotheby’s sales results page)

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