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I've spent the last 4 days or so at home, trying to fend off a cold (not sure that I can say it worked, but I'm starting to feel better), and during this time I've spent a lot of time on the computer trying to track down my next 'big find'.
To summarize, it has been disappointing.
Setting aside the impact of the holiday season and cold weather (it's winter if you live in the northern hemisphere) which generally reduces the number of estate sales going on fairly significantly, the end of the year, and start of a new year, sometimes marks a good time to find some impressive artifacts. Sadly, I did not find this to be the case this year.
The auction world, exlcluding the big houses, seems more inundated than ever with fakes - and some really good ones, too!
Of the smaller auction houses that focus on ONLY Chinese antiques, I would say you should avoid them altogether UNLESS you're looking for exportware. Heavy attention to these Asian specific auction houses basically means that you will not win a bid on a genuine M&P piece (or non M&P piece of high quality) against eager Chinese buyers who often over bid just to win, then abandon the item unpaid if they feel they did not get a good deal on the purchase.
Of the few smaller auction houses that mix up their auction items with Japanese and European art, like Eldred's, generally you can rest assured that the items being sold are genuine, but don't think you'll sneak away with a bargain. Every Chinese dealer I know in the USA (about 40 or so), shop these auctions, and they are often happy to buy a piece with a very small margin of profit once they export it to China to resell (5% is enough for them to pull the trigger).
The exception to the auction scenarios laid out above are very small auction houses that generally sell low quality lots without a lot of knowledge of what they're selling. These auction houses often refer to any Asian item as 'oriental', not understanding the differences between Japanese, Chinese, or other Asian art, and sometimes don't describe the origin (nationality) of the lot at all (ie. they title a lot 'old blue & white vase', leaving out the word 'Chinese').
But searching these type of auction houses is VERY labor intensive as most of what they have is of no value to a collector. It reminds me of the guys who go to the beach with metal detectors.... certainly they find things, but not always things of value, and they have to sift through a lot of sand and walk up and down the beach for hours every day. Therea are a few tricks to make it easier and more profitable, but generally, this kind of treasure hunting is a big 'PASS' for me.
So, how can you find good quality Asian antiques to collect (and perhaps sell)? Well, without revealing my trade secrets, let me direct you to an article by ArtNet on the late Robert H. Ellsworth, titled Robert H. Ellsworth, King of Ming, Dead at 85, (Rozalia Jovanovic, August 7, 2014).
I just read this article for the first time this morning, and I would say that in the few quotes/references to how Ellsworth became a leader among Chinese art collectors, it reaffirmed some practices that I already implore, and dropped a few ideas on how I might improve in the years to come.
It's a short article, but if you are serious about building a collection, or finding that lost treasure, take it in, read it again, and find ways to apply the method to your own situation. While clearly Ellsworth built substantial wealth during a golden age of opportunity, there still remains opportunity if you look in the right places, and make good buying/selling decisions.
Enjoy.
https://news.artnet.com/market/robert-h-ellsworth-king-of-ming-dead-at-85-75146
Thank you, Tim. Excellent advice, with emphasis on the first principle: there is no substitute for knowledge.
Carol
I wonder what the jade piece he wore on his finger was. Described as the 'finest piece of jade in the world ' by him.
Mark
@imperialfinegems I read that the ring was bequeathed to his boyfriend, Masahiro Hashiguchi, along with $10 million USD and other items. Hashiguchi was very upset with what he received, and challenged the will in court (not sure of the outcome).
Another article said the ring was valued at over $2 million USD in the 1990's - an emerald green cabachon in gold.
I think it is important to point out that A) he was not an academic by nature (didn't graduate high school) or come from a family already collecting Asian art, but developed 'an eye' through personal study, observation, and acquisition. And, B) He bought and sold, so not a purest collector of unfathonable wealth.
It must have been a exceptionally fine imperial green stone/ring.
Robert had a interesting way of collecting....by keeping one in three items. Obviously keeping the better I surmise. I know a few dealer's who used to trade this way.
Buying bargains from smaller auction houses is very far and in between. But it does happen.
I personally know of a couple of auctions that predominantly sell fakes but in between said are a few genuine item's.
The 'eye' is something that one either has or hasn't. It's got nothing to do with research or how many books one has consumed.
Mark
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