FOR IMMEDIATE RELEASE
Contact: Josh Chait
310.285.0182
josh@chait.com

I.M. CHAIT’S RECORD BREAKING NYC ASIA WEEK SALE GROSSES $2 MILLION!

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New York City. The atmosphere was electric on Monday, March 21, as I.M. Chait's fifth annual New York auction took flight. With buyers having only begun to taste the vast array of collections of Asian art that would be sold throughout the week, it was as though they couldn't wait to start spending.

The action began with a phone bidder taking the first lots of antique Ivory netsuke before engaging with the room for Lot 16 a collection of carved ivory "clam dreams" and polychrome fruit that more than doubled its estimate at $9,760 (including the 22% buyers premium). That set off a series of surprises that did not cease until the waning minutes of the sale when Lot 226 and Lot 227 antique Chinese hand scrolls, soared about their estimates to make $39,040 and $51,240 respectively.

Lot 165 the outsized Ming blue and white Palace Vase that had carried and "Estimate on Request" tag, found its sales value at $183,000.

Jade and ivory carvings proved their strength several times over, beginning with an unusually tall and elaborately carved Chinese celestial beauty in layered robes and garlands (pictured atop). With at least four bidders in pitched battle, Lot 208 quickly exceeded its $12,000 estimate to make $122,000.

Lot 49 a fine carved coral urn with cover, set off a war that escalated until a bidder in the room, sans paddle but known to the auction house, jumped to take it at $91,500.

Lot 190 A traditional Rhinoceros Horn Bowl in the form of an open lotus blossom came in as expected at $79,500.

Each of these coups followed the sale of Lot 207 an ivory "doctor's lady," in typical recumbent pose, that was taken for more than seven times its estimate. Bottom line, $56,120.

Lot 193 An 18th Century carved jade mountain stirred interest throughout the room to make $30,500. It was quickly followed by the sale of another mountain, Lot 194 that was charming in its depiction of horses beneath willow trees. It fetched $19,522.

Lot 72 a red lacquer "cinnabar" dish with ornate design of an antithetical pair of male and female phoenix and bearing an old label from the 1948 Oriental Ceramic Society Exhibition, brought $33,050.

Lot 206 a very large ivory dragon boat with ferris wheel, pavilions and a partygoers doubled its high estimate at $24,400.

Traditional items like Lot 221 a pair of Qianlong Lapis Lazuli table screen, carved with traveling figures in a mountainous landscape, found interest at $30,500. And Lot 222 a large pair of antique Chinese inlaid plaques composed of finely carved jades and hardstones brought $31,720.

Small and delicate items had their day too. Lot 65 an antique carved bamboo brushpot with continuous openwork relief of sages and attendants in a bamboo grove appealed to collectors of scholars objects. The pot, estimated at a modest $3,500, rocked the room when it soared to $20,740. And Lot 45 an unusually sparsely carved horn or bamboo wine cup blew through its $3,000 high estimate to make $21,960.

Moving on to a collection of Sino-Tibetan deities that also have come to be an anticipated part of Chait auctions, the story centered on Lot 220 The Ming-style, Chinese gilt bronze figure of a seated Bodhisattva less than 10-inches high, brought $21,960 from a bidder online.

Ending the day on a glittering note, jewelry collectors found excellent buys in the moderate range. Lot 229 an antique jadeite pendant in the shape of Buddha's hand, commanded $27,720. This was followed by Lot 230 a double stand jadeite bead necklace that brought $24,400. Lot 231 a triple stand necklace of Burmese sapphires, went quickly at $26,840 while Lot 234 an outstanding emerald and diamond necklace was taken home for $17,080.

Full details of the sale can be seen on the I.M. Chait website at www.chait.com. Their next Asian & International Fine Arts Auction is scheduled for May 1 in Beverly Hills which is also now online. Full color catalogs are available for $35 plus postage. Preview in Beverly Hills begins April 26th - 30th. For consignment inquiries or any additional information, please contact info@chait.com or 310.285.0182