News

Canadian government buys vase for over five times antiques valuation

January 31, 2011

The Canadian government has purchased a vase for more than five times its antiques valuation.

It was purchased by the National Gallery of Canada for over C$650,000 (£409,170) at a New York auction last week.

And Marc Mayer, director of the gallery, said: "We were attracted to this extraordinary vase because it tells the story of how Canadian and American cultures are closely connected."

What's more, he stated that every expert the organisation spoke to pointed out the piece - which was created more than a century ago by US jewellery designer Paulding Farnham - is one of the most "ambitious decorative objects" in existence.

This comes after a Chinese vase with an antiques valuation of £10,000 went under the hammer for nearly £5 million last month in San Francisco.

The item - a blue and white Dragon jar from the Qianlong era, which began in the 1700s - was purchased at Bonhams by a China-based bidder.

Posted by Keith Leicester