An 18th-Century Chinese vase was auctioned more than two years ago to a Chinese buyer for $89 million (see Kovels Komments, Nov. 17, 2010). The buyer refused to pay the amount he bid and started a two-year legal tangle. Negotiations solved the problem. Another Chinese buyer recently bought the vase in a private sale for more than $31 million. Both the seller and the auction house have now been paid.
Photo source: Bainbridge’s Auctions