You must have seen in a movie or one of the series you watched, how an auction works with particularly excessive competing offers. A similar case recently occurred at the Ausnat auction house in the town of Fontevnelou near Paris, France.
A Chinese vase made of blue and white porcelain was sold for 4,736 times its estimated value, after the buyers were convinced that it was an extremely rare object. Jean-Pierre Osnat, president of the auction house, told CNN on Tuesday that the owner of the vase, who lives abroad, asked them to sell it as part of a shipment of items taken from their late grandmother’s home in northwest France.
“It’s going to change their lives completely. They can’t believe the waza was bought at that price,” Osnat said. CNN reported that there were a total of 30 bidders, each of whom was required to deposit a sum of money to participate. On the sales company’s website, the item was described as a “blue-white porcelain and polychrome enamel vase with a spherical body and a long cylindrical neck, decorated with nine dragons and clouds.”
The total cost of the deal after adding the seller’s fees was $9,077,356. According to the “Guardian”, the bidders, who were mostly Chinese, were sure that the vase was a rare item from the 18th century, and therefore offered offers that reached the amount of the replica.