Sitting Pretty: Ming Dynasty Chair Sells For Almost 10 Times Its Estimate At $16M

Setting a world auction record for a huanghuali folding armchair, the sale marks almost double the previous record.

Sotheby’s Hong Kong has sold a rare Huanghuali Folding Horseshoe-Back Armchair from the collection of the late Sir Joseph Hotung.

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The chair dates back to the late Ming Dynasty.

With a sale of $15.9 million, its price is a record for a Chinese chair.

Not to mention, it also recorded the third-highest sum achieved for any chair at auction.

“The strong sales results are a testament to the increasing demand from a growing collector base for this category. As we witnessed active biddings from across the region and beyond,” Asia and Chinese works of art chairman Nicolas Chow said.

In fact, the chair received over 60 bids in an auction battle that lasted 15 minutes.

Banner Photo by Sotheby’s via Twitter.