iGavel’s Asian, Ancient and Ethnographic Art Auction Soars Past Estimates

Rare Zitan and Hardwood Pedestal Desk Tops Highlights, Sells for $288,000.

New York, NY, May 14, 2008 --(PR.com)-- iGavel’s Spring Asian, Ancient and Ethnographic Art Auction ended with a bang last Wednesday as a host of lots blew past their estimated selling prices. Leading the way in bidding was a Zitan and Hardwood Pedestal Desk, which closed at $288,000. The desk, from the collection of the late Dr. Henry Spencer Houghton, was estimated to close anywhere from $120,000 to $180,000. Houghton, a former director of the Peking Union Medical College in Beijing, purportedly acquired works for his services from senior Chinese government officials.

Also garnering a high price from the Houghton Collection was a Chinese Inlaid Zitan Box. The 18th century hard stone and silver wire box closed at $22,815; it had been priced to sell between $1,500 and $2,500.

Jade items were also in high demand during the auction. A Kangxi Period pale-celadon Jade carving of a mountain with scholar was estimated to sell between $15,000 and $25,000, but after 42 bids, closed at $112,800. “Chinese Jades are achieving particularly strong prices at auction,” noted Lark Mason, President of iGavel. “And those with a provenance are the most desirable.” This particular jade was illustrated in the September/October 1998 issue of Arts of Asia.

iGavel bidders also had their eyes on Chinese porcelain. It took 19 bids to win a pair of Chinese porcelain Blue and White "Boys" Bowls from the Qianlong Period. The bowls sold $36,012, beating their high-end estimate of $25,000.

These high prices solidify just how strong the Asian Art market is today. iGavel intends to capitalize on the attention from this auction with an upcoming auction featuring a collection of Chinese jades. Opening May 13, 2008 and closing June 10th, the auction entitled, Chinese Jades, English Silver and Other Works of Art, will be available for bidding iGavel.com.

iGavel.com is a leader in online art auctions, offering collectors and dealers high quality fine art, antiques and collectables guaranteed for authenticity and condition. iGavel auctions are modeled on the traditional live auction format, where each lot includes detailed photographic images, a professional description, and an accurate condition report. President of iGavel - is a frequent guest appraiser on the Antiques Roadshow, was formerly a Senior Vice President with Sotheby's Chinese Works of Art Department, and Director of Online Auctions for Sothebys.com.

iGavel, Inc.
Justin Berg