A Vietnamese antiques expert has lamented that the government auctioned thousands of priceless Chinese artifacts in the Netherlands and not Vietnam, netting a mere US$1.3 million for the collection.

This expert and also a senior official wishing to remain anonymous told Thanh Nien that the 76,000 pottery and chinaware items which were sold in January this year for over 3 million euros or nearly US$4 million is “too cheap”.

The Vietnamese government then netted a mere 1 million euros after deductions including 20 percent in commission to auction holder Sotheby’s, around 0.5 million euros to the Netherlands tax coffers, and other costs for salvage, storage, maintenance.

He said Vietnam should have held the auction right in Vietnam to avoid taxes, and it could also have hired a foreign company to help in the auction.

This can lure rich people to Vietnam, which is an effective way to promote its tourism, he added.

“1 million euros is nothing compared to their real value”, he said.

The priceless antiques were salvaged in seas off the southernmost Ca Mau province since 1998 and were made at kilns in Jiangxi and Guangdong provinces in China during the Qing dynasty in 1723-1735.

At the auction, some items went for over 10 times their estimated price, like a tea set engraved with a Chinese tent which was bought for 31,200 euros by a Russian and another dish and tea set with image of a child on a buffalo for 49,200 euros.

Posted: 05|29|07 at 8:28 am. Filed under: Auction News.