Rare pair of Ming Dynasty jars smash auction estimate, selling for $12.5 million

A pair of rare Ming Dynasty fish jars dating from the 16th century have sold for £9.6 million ($12.5 million) at auction, smashing their estimate of £1 million ($1.3 million).

The porcelain jars, made for the Jiajing Emperor, sparked a 20-minute bidding war among more than 10 collectors before eventually being sold to a private collector in Asia, according to a statement from auction house Sotheby’s on Wednesday.

“This remarkable result makes it the highest priced Chinese work of art sold at auction worldwide this year,” said Sotheby’s.

Part of the lot’s appeal was the fact that this was the first ever appearance of a complete pair of fish jars with covers at auction.

There is only one other covered pair known to be maintained together, and they are held by the Musée Guimet in Paris.

In addition, there are only three known single jars that still have covers, all of which are in private collections.

This pair were held in a German family collection for at least a century, according to Sotheby’s.

“Their survival is nothing short of miraculous, as the jars were removed to safety together with the family’s art collection during the Second World War, before the family home in Wiesbaden was destroyed,” said the auction house.

So-called fish jars were made during the reign of the Jiajing Emperor, from 1522-1566, and demonstrated a major advance in porcelain production, according to Sotheby’s, which highlighted “the grandeur of the ‘fish jars’ produced during this period.”

The jars feature golden carp seen to be floating through ponds rich with lotus and other plants.

“The Emperor was a devout Daoist, and fish as an image of freedom from restraints played an important part in Daoist thought – they were considered symbols of a happy, carefree life in tune with nature,” said Sotheby’s.

The market for Chinese ceramics has been rising for some time, Nicolas Chow, chairman of Chinese works of art at Sotheby’s Asia, told CNN in a 2017 interview.

“What we’ve seen since the dramatic rise of the Chinese economy, particularly since the late 1990’s, is a staggering rise in prices in this field,” he said.

“You have all this new wealth in China and very high net worth individuals who are extremely hungry to reclaim their past.”

Chow also explained the significance of ceramics in Chinese history.

“Ceramics has always had an important place in China and although you’ve got traditions elsewhere – in the Middle East, in Europe – the history in China goes back thousands of years,” he said.

“The Chinese refined the technology over time and their advances are unmatched anywhere else in the world.”