Elite Decorative Arts' Chinese art auction smashes sale estimates

No-one should be surprised by now when it comes to Chinese artworks.

But some of the estimate-smashing that occurred at Elite Decorative Arts' auction on Saturday, November 19 still managed to take our breath away.

A 14k carved gem pendant was the pick of more than 600 Chinese carvings and works of art at the Florida, US auction.

The jadeite leaf slide pendant demolished its $5,000 estimate, selling for $50,000.

Featuring a carved relief design of leaves and gourdes, the two-inch wide beauty was the top selling lot by more than $26,000.

But it was a Ming dynasty porcelain bowl and cup from the Chunghwa era (1464 to 1487) that really shocked.

The beautifully-decorated piece sold for $26,000, against a mere $400 high-end estimate.


Ming dynasty plate
A $400-estimated 15th century bowl and cup sold for $26,000


Scott Cieckiewicz of Elite Decorative Arts commented: "The market for Chinese antiques is red-hot right now, not just here but around the world and especially in China, the native home of these objects, where wealth is on the rise."

There was less good news for the ivory lots. A late 19th or early 20th century relief-carved elephant tusk sold for a disappointing $13,000, against a low-end estimate of $40,000.

A pair of Namibian elephant tusks on display stands made $25,000, well down on their $40,000 low-side valuation.

It is perhaps evidence of the public's current unease with buying ivory, even those pieces that have been transformed into "art".

Many safer bets exist for collectors in the art world at the moment. Take a look for yourself

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