VICTORIA - After sitting unnoticed in a Vancouver Island church for years, two chairs dating back to 17th century China have sold at auction for $630,000.
A parishioner of Victoria’s St. Matthias Anglican Church who is an aficionado of Oriental antiques but wants to remain anonymous first noticed the chairs in 2010.
Originally, the armchairs were thought to be fake, but their worn feet proved their authenticity.
Bidding began at Sotheby’s New York at $120,000 but rose in $10,000 intervals, quickly surpassing their estimated value of $180,000 to $250,000.
After hitting $500,000, bidding began to jump in intervals of $25,000, hitting a ceiling of $630,000.
With extra costs, known as a buyer's premium, the final price for the two chairs was $758,500. (Victoria Times Colonist)