Sayart.net - Rare Joseon White Porcelain Valued at 10 Billion Won Set for Auction

In a historic move for both domestic and international antiquities, "Cheonghwa Baekja" has entered the auction market with a starting bid of 10 billion won. My Art Auction, a renowned antique auctioneer, has revealed plans to auction "White Porcelain Blue Flower and Maejomunbyeong," identified as white porcelain treasure No. 659 from the early Joseon Dynasty. The starting price for this rare piece is set at 10 billion won for the 50th major auction scheduled for December 7. The estimated value ranges between 10 to 15 billion won, and both the owner and the auction house insist there is ample justification for this high valuation.

Notably, in a previous auction last May, another white porcelain piece, 'White Porcelain Blue Painting Five Birds and Dragons and Tigers,' fetched an impressive 7 billion won, establishing a record as the highest-priced antique art in both domestic and international auction markets. For context, the 'Teuui Teacher’s Jinjeok' sold at K Auction in 2012 for 3.4 billion won in Korea, while at a Christie’s auction in New York in 1996, the 'Teolhwa Baekjayongmun' jar commanded a staggering $8.41 million (approximately 6.6 billion won).
 

▲ "Cheonghwa Baekja" 백자청화매조죽문병白磁靑畵梅鳥竹文甁, 高 32.9 口徑 8.5 底徑 10.4, 보물 659호 Courtesy of MyAuction

The current owner of the 'Cheonghwa Baekja' is Lee Heon, a 90-year-old figurehead and chairman of Deokwon Gallery, renowned in the antique art market. It's worth noting that the 'White Porcelain Blue Painting Five Birds and Dragons,' which previously sold for 7 billion won, was also part of Lee Heon's collection. Should the upcoming auction be successful at the starting bid of 10 billion won, it will shatter the existing record for the highest price ever paid for an ancient art piece, both domestically and internationally.

According to My Art Auction, "This jar, an early blue and white porcelain from the early Joseon Dynasty, is in impeccable condition as it was excavated." The auction house further emphasized that, while the pottery has not been designated a national treasure, it holds significant national and collector value in the antique art market due to its historical importance. The dimensions of the pottery are 32.9cm in height, 8.5cm mouth diameter, and 10.4cm bottom diameter.

The blue and white porcelain in question was unearthed in November 1967 during the relocation of the tomb of Lee Hae (李瀣, 1496-1550) to Gwacheon-myeon, Siheung-si, Gyeonggi-do. Lee Hae, the older brother of Toegye Lee Hwang (退溪 李滉, 1501-1570), served as a major official during the Joseon Dynasty.

Sayart / Jason Yim yimjongho1969@gmail.com