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skip to content altair auctions how a scam makes money menu and widgets search for: pages about guestbook recent posts recent disputes and controversies involving asian antiquities and cultural property* fake coins vase that drew $1.7m bid also drawing federal scrutiny recent comments archives january 2015 categories uncategorized meta log in entries rss comments rss wordpress.org vase that drew $1.7m bid also drawing federal scrutiny by sean p. murphy and andrea estes globe staff may 12, 2013 it was the kind of big ticket sale that puts a new art auction house on the map: a bidder on the phone in italy offered $1.7 million for an 18th-century chinese vase from altair auctions of norwood, an eye-popping price more normally seen at elite houses like sothe­by’s or christie’s. but when the globe, acting on a tip, discovered that the vase bore a striking resemblance to a modern reproduction auctioned off a year ago for just $3,840, the deal began to unravel. the two vases are almost certainly one and the same, but sometime between the earlier auction and the altair sale on march 30 someone had written a phony ownership history and placed a christie’s sticker on its base, as if to hide its humble past from a rich new buyer. continue reading below “you could tell from looking at it that the vase did not predate the 20th century,” said james jackson, the iowa-based auctioneer who sold the vase on may 23, 2012, as a relatively low-cost reproduction. “it didn’t require an expert. it would be like putting a mercedes-benz hood ornament on a vw beetle.” now, instead of making altair’s reputation, the vase sale is threatening to topple the company before its first anniversary as federal prosecutors begin an investigation into whether altair or its clients engaged in fraud to inflate the price of the porcelain vase or other art works. altair’s owner, benjamin wang, insists the vase he sold is authentic, but he has canceled what would have been the biggest sale in the company’s history. after giving various accounts of the vase’s history, wang now says it is probably the same one that jackson sold a year ago, but that jackson didn’t realize what a valuable antique he was selling. wang admitted he made a “big mistake” by not questioning a false sales history provided by the vase seller, but said that shouldn’t take away from the antique’s value. handout a look at the vase. “we have an item we say is worth more than $1 million,” said wang’s attorney, orestes brown, explaining that altair plans to send the vase to china to be authenticated by a government agency. “we don’t want the reputation of the vase to be tainted because of the opinion of some guy with no credibility,” he said, referring to jackson. the vase’s owner, a customer of wang’s named dong hua of andover, hung up on a globe reporter and didn’t return repeated phone calls seeking his explanation for why he said the vase had last been sold in 1989 rather than in 2012 as jackson’s records show. the imbroglio offers a rare glimpse into the frenzied chinese art and auction market, which has exploded in recent years as wealthy chinese collectors have spent vast sums on art and other luxury items at auctions around the world. but with that rapid growth has come charges of fraud and fakery as people attempt to cash in on perhaps the world’s most lucrative art market. “the trouble in china is that 70 percent of the art is fake. even villages are reproducing ancient prototypes. a lot of the modern art is fake as well,” said robert k. wittman, a former fbi agent who runs a firm that specializes in recovering stolen treasures. and the problems don’t stop there: some bidders are fake, too. “one of the big problems is phantom buyers in the chinese markets,” said wittman. “what’s happening is the chinese are bidding up their own artwork . . . so they can point to that and say this is what it’s worth.” wang, a native of china who studied chinese arts and antiques at the institute of mongolian history, launched altair in september 2012 to specialize in asian art and antiques. tucked into an unassuming strip mall next to buddy’s budget tile, altair quickly began racking up big sales in chinese art, including a blue and white chinese vase that the company says was sold for $566,400. but auctioneers are only as good as the collectors who bring them art and antiques to sell, and rival auctioneers often battle for their loyalty. a month after wang started altair, his former employer, kaminski auctions of beverly, sued him for fraud, alleging wang had diverted clients and their valuable objects from kaminski’s auction house to wang’s businesses, including altair and a salem antiques shop. wang denied kaminski’s charges — including assertions that wang stole a chinese sword and sold it for $1.4 million — calling them “ridiculous and preposterous.” several of his regular collectors wrote affidavits in wang’s defense, including hua, who has sold antiques through altair. the controversy over the $1.7 million vase — formally known as a “double famille rose double gourd” — at first blush might seem to be little more than sparring between rival auctioneers, including one, jackson, who may have let a huge payday slip through his fingers by not recognizing the true value of the vase. but there’s little doubt that someone embellished the vase’s pedigree between may 23, 2012, when jackson’s international auctioneers & appraisers in cedar falls, iowa, auctioned the piece off as a reproduction, and march 30, 2013, when altair sold it as a genuine 18th-century piece for almost 500 times more. handout the bottom of a chinese vase sold at altair auctions of norwood in 2013 for $1.7 million. wang and his lawyer, brown, say that the vase seller, hua, gave them the false provenance, the documented history of ownership that buyers rely on in part to determine the value of art and antiques. according to brown, hua also attached a sticker to the bottom of the vase showing it had last been auctioned on feb. 23, 1989, at a christie’s sale in south kensington, england. wang said hua had a receipt from the sale. but wang, who is supposed to authenticate a piece’s value, never checked with christie’s or asked to see hua’s sales slip in evaluating the vase, according to his lawyer. instead, he concluded that the piece was an authentic 18th-century vase, not a modern copy, based on his own art expertise and the word of a consultant provided by hua, wang said. jackson’s 2012 auction catalogue in iowa, the torn christie’s sticker on the vase’s bottom had an illegible number. if wang had investigated the sticker on the bottom of the vase — marked “297” under a christie’s label — he would have figured out the deception immediately. lot 297 in the february 23, 1989, christie’s auction in south kensington was not even a vase: according to a christie’s spokewoman, it was a 10¼-inch blanc de chine statuette of guanyin, buddhism’s goddess of compassion. it had an estimated value of about $100. the location of the 1989 auction offered clues to some art experts, too. christie’s south kensington auctions are generally reserved for relatively inexpensive objects, described by one art expert as “tchotchkes” or trinkets. but wang accepted hua’s documentation without question, splashing a full-page photo of the vase in altair’s glossy auction catalogue and estimating its selling price at $60,000 to $80,000. then, to what wang said was his surprise, the spirited bidding on march 30 drove the selling price up to $1.7 million, more than 20 times what he had estimated as its value. when the globe began asking questions about altair’s record-price vase, wang said he was excited about media coverage, saying it would be “good exposure for my company.” asked why someone with a million-dollar object would sell it through an obscure, fledgling auction house, wang said the big name auction houses charge more, make mistakes, and complicate sales with red tape. he insisted on a

URL analysis for altairauctions.com

http://altairauctions.com/about/
http://altairauctions.com/comments/feed/
http://altairauctions.com/2015/01/
http://altairauctions.com/feed/
http://altairauctions.com/2015/01/vase-that-drew-1-7m-bid-also-drawing-federal-scrutiny/
http://altairauctions.com/2015/01/recent-disputes-and-controversies-involving-asian-antiquities-and-cultural-property/
http://altairauctions.com/category/uncategorized/
http://altairauctions.com/staff/estes
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http://altairauctions.com/staff/murphyse
http://altairauctions.com/2015/01/fake-coins/
http://altairauctions.com/#content
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Domain Name: ALTAIRAUCTIONS.COM
Registry Domain ID: 1890401664_DOMAIN_COM-VRSN
Registrar WHOIS Server: whois.godaddy.com
Registrar URL: http://www.godaddy.com
Updated Date: 2017-12-15T20:33:55Z
Creation Date: 2014-12-14T20:07:12Z
Registry Expiry Date: 2018-12-14T20:07:12Z
Registrar: GoDaddy.com, LLC
Registrar IANA ID: 146
Registrar Abuse Contact Email: [email protected]
Registrar Abuse Contact Phone: 480-624-2505
Domain Status: clientDeleteProhibited https://icann.org/epp#clientDeleteProhibited
Domain Status: clientRenewProhibited https://icann.org/epp#clientRenewProhibited
Domain Status: clientTransferProhibited https://icann.org/epp#clientTransferProhibited
Domain Status: clientUpdateProhibited https://icann.org/epp#clientUpdateProhibited
Name Server: NS21.DOMAINCONTROL.COM
Name Server: NS22.DOMAINCONTROL.COM
DNSSEC: unsigned
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  REGISTRAR GoDaddy.com, LLC

SERVERS

  SERVER com.whois-servers.net

  ARGS domain =altairauctions.com

  PORT 43

  TYPE domain

DOMAIN

  NAME altairauctions.com

  CHANGED 2017-12-15

  CREATED 2014-12-14

STATUS
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  NS22.DOMAINCONTROL.COM 173.201.68.11

  REGISTERED yes

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