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Subject:Re: Chinese antiques in a frenzy.
Posted By: PyroManiac Sun, Jan 30, 2011
Certainly interesting times. Prices are indeed going through the roof especially on bronze censers and porcelain. However the prices of Japanese items are mostly stagnant. My guess is that items from the major auction houses have gotten so high that middle level buyers that normally would have purchased from the main auction houses were basically forced to other avenues; like eBay. The interesting thing I find it that good Republic items have now become more expensive than Qing period items. Especially signed plaques. Another reason why bidding has become so extreme is that buyers are almost desperate to get good items; PLUS the notion that I don't want others to get that item that I want.
You also have to take into account sabotage bidding where a throw away account is created in order to put a bid that is so ridiculously high that they are guaranteed to win the auction, and they have no intention of paying for it. This is done by people who do not have a large enough budget to actually purchase the item but cannot bring themselves to allow others to outbid them and get the item. A if I can't have it, neither can you behavior. This is why many times you see an item that was won for a very high price being re-listed again. Bidding has gotten so competitive that many bidders don't even try to wait for an auction to finish and crack a private deal with the seller and end the auction early. It's very annoying when you can't even get the chance to bid. Of course if an good item comes on for sale that the seller has no idea what the item is, there is practically no chance for that auction to end in it's stated time with the seller being bombarded by messages to make a direct sale. Like a few weeks ago when a Qianlong M&P Doucai ogee shaped bowl was offered with a generic description of Chinese vintage bowl, it didn't last for 48 hours before the 1 week auction was terminated when the seller made a BUY It Now direct sale to someone for US$150. Someone was laughing. Maybe both parties were. One much louder than the other.
As for this seller Joanies_house_of_treasures, I find most of her offerings are okey when it comes to items I know about. As for items I have little knowledge about I am in no position to say. There are however a few items that I would rather not touch. A simple modern decorative bowl like the one with the hidden red dragon design which can be bought in a multitude of tourist souvenir shops all over China selling for US$5,400 is quite eye pooping indeed! But the seller was not wrong here. She never mentioned the age of the item at all. Simply described its physical appearance. It was the bidders that went wild. Remember when it comes to eBay, it is the bidders that set the value of the item, not the seller.
Can this be sustained? I actually think it can! Bidders now will evolve, learn more and up their ante if you will and eventually go for larger things when they feel more comfortable. In return, new comers will take their place. In China newly rich are being made all the time and they will want to spend.
Perhaps it is good time to start selling some of one's personal collection which you purchased before things went crazy. How about it Mr. Allen? I am personally planning to sell part of my collection after Chinese New Year and am very curious to see what will happen. I think I will start with teapots first although I know that category has not become the hottest in the market.
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