18th century Qianlong vase originally sold at auction for £43million in 2010
But Chinese buyer refused to pay the 20% fees of Bainbridge auction house
Sale of the vase – which was inherited by solicitor Tony Johnson – was stuck in two year legal battle
New bidder has now purchased the antique – but for just £25million
A former solicitor who put an antique Chinese vase up for auction two years ago has only just managed to sell the piece after a lengthy legal row over the auctioneers’ fees.
Tony Johnson and his mother Gene believed they had sold the rare piece, which they had inherited from an relative, for the ‘stratospheric’ sum of £43million in 2010.
But the Chinese billionaire buyer is believed to have balked at paying an extra 20 per cent in auctioneers fees on top of his winning bid.
Peter Bainbridge, who owns the Bainbridge auction house that ‘sold’ the exquisite vase, spent months trying to save the deal by negotiating with the buyer but with no success.
After a two year stalemate, a new unidentified buyer from the Far East put in a new offer through Bonhams auction house and is now believed to have paid up to £25million for the 18th century Qianlong vase.