An art book, written sometime in the mid to late 19th century in China and transported back to England on a trading ship. It went up for auction at Bonhams in Oxford. I bid on it.
When I was over there this last time, some people that I know - we'll call them X and Y - had this Chinese folio they didn't know what to do with. I suggested it be auctioned and I took photos of the book and promised I would check on it when I got home - and I did. Two sources.
The first source wasn't too impressed. She is a PhD in Chinese art and does appraising for a fee. She thought it might fetch 1-2 thousand dollars. I notified X and Y. No comment from them. I suggested to them that it could be sold, easily for that amount here. No comment. I checked with Christie's - the art appraiser suggested an amount between $4,500 - $7,000. I again informed X and Y. They responded - we have put it into an auction house here and they suggest it is worth £ 100-200. I told them no, that it could go for considerably more here and Christie's would pay to have it shipped and guarantee a minimum of $500 (actually I was going to ensure it was at least that much). I wanted them to do what would be best in terms of money. They replied - sorry, but we have decided and that's that. Well within their right given all the issues they have had to deal with.
So, I bid on the item. It went for considerably more than £100-200 (the appraiser at Bonham's should find other employment) but not near the mid-price Christie's believes the item will sell for. £230 for commission and VAT and shipping brings it to a much higher figure, and when we turn around and sell it here they knock off another nearly 20%, but I should still be able to make a considerable profit, and will at that time, let X and Y know how much I appreciate their contribution.
Bonhams
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