$17 Chinese vase sells for $1.3m in Oxfordshire, UK auction

A Chinese vase bought for £12 ($17) in the 1950s has sold for £900,000 ($1.3m) at Mallams in Oxfordshire, UK - a record for the auction house.

The lot was valued at £20,000-30,000 ($29,108-43,662), resulting in an increase of 2,900%.

Chinese vase Mallams
The vase dates to the reign of the Yongzheng emperor (1722-1735)

The Celadon glazed Yongzheng vase dates to the early 18th century and is based on a design from the Southern Song era (1127-1279).

It draws inspiration from bamboo and chrysanthemum petals and is painted in a delicate blue glaze.

Yongzheng-era ceramics are highly sought after due to the high level of quality demanded by the emperor - who carried out regular quality inspections at the kilns.

The vase formerly belonged to a collector named Charles George and is recorded in his detailed inventory.

Robin Fisher, director of Mallams, told the Daily Mirror: "It is the scarcity of high quality, genuine works with a solid provenance such as this exceptional vase that ensured it realised the highest price we have ever achieved for any item at auction.

"We had people from China and Hong Kong flying over for the bid. The buyer was in the room at the time."

This is not the first time a Chinese vase has sold for much more than expected.

An important Qianlong vase found in an attic in London realised £25m ($36.4m) in 2013.

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