An 18th-century Chinese vase whose buyer reneged on the £43m bid for the work at auction has been sold by auction house Bonhams for a price believed to be between £20m and £25m.
The fairy-tale sale of the 16-inch Qing dynasty vase from 1740, which was found in a northwest London attic and was sold by the suburban auction house Bainbridges in November 2010, turned sour when the Chinese buyer was reported to be unwilling to pay the agreed price for it.
The original price – a staggering £53m, including the 20 per cent commission levied by the auction house and tax – was a record for Chinese art. Bainbridges had given the piece an estimated value of £1.2m.