Wynn Macau Limited, Casino magnate and collector Steve Wynn's company in the People's Republic of China, has acquired an extraordinary group of important Jiaqing period (1796-1821) vases. The pieces were sold at Christie's London sale on July 7.
An invaluable part of Chinese culture, the set of four ormolu-mounted Chinese Porcelain Baluster vases were purchased at auction for more £7,993,250 pounds, including buyers premium (more than $12.7 million).
What's more, the sale far exceeded twice the previous world auction record price for ormolu-mounted porcelain.
As well as boasting distinctive scale, quality and number, such matched pairs are especially rare and matched quartets of this age and size never seen. The only known similar examples are in the collection of the British Royal Family.
According to Wynn Resorts, these exceptional examples will be displayed exclusively in the company's Cotai resort which is scheduled to open in 2015. The purchase was inspired by Steve Wynn's ongoing commitment to return artistic treasures to the People's Republic of China.
"We are delighted to be able to return these extraordinary examples of Chinese culture to the People's Republic of China, and place them on display in the city of Macau, which we are so fortunate to be a part of," said Steve Wynn, Chairman and CEO of Wynn Resorts.
As we've previously reported, Wynn can be classed as one of a growing number of so-called "Medici" buyers, wealthy individuals devoted to amassing comprehensive collections and, in many cases, returning items to their country of origin.
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