Bid-less Indonesian auction folds
- May 05, 2010 08:57
No bidders registered for an Indonesian auction of more than 270,000 treasures recovered from a 10th-century Chinese shipwreck.
A $16 million deposit was required of bidders. The sale was only announced one week ago.
The auction included mostly ceramics as well as some delicate jewel-studded gold jewellery, crystal ware and swords with Arabic inscriptions
The treasure trove was found off West Java in 2004. Organizers expected the discovery to sell for at least $80 million. A second auction will be attempted.
![A 19th century Seven Piece "Chrysanthemum" Pattern Sterling Silver Coffee & Tea Service, which was exhibited in the Tiffany & Co. booth at the 1893 World’s Columbian Exhibition in Chicago](/images/c/78/96/Tiffany___Co__Makers_Seven_Piece_"Chrysanthem100x100_c.jpg "A 19th century Seven Piece \"Chrysanthemum\" Pattern Sterling Silver Coffee & Tea Service, which was exhibited in the Tiffany & Co. booth at the 1893 World’s Columbian Exhibition in Chicago")
