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Looted bronze statues' winning bidder won't pay, no way no how!

caimingchao.jpg The man who allegedly bid over 15 million euros to buy two bronze sculptures that caused such a tizzy in China over the last week has no intention on paying for them, according to the BBC.

Cai Mingchao, a well-known art buyer and advisor to China's National Treasures Fund said his bid was an act of patriotism. But he made clear that there was no way he was actually going to hand over money for the two relics, looted from the Summer Palace in the 19th century.

"What I want to stress is that this money cannot be paid," Mr Cai told a news conference.

"I believe that any Chinese person would stand up at this time... I am making an effort to fulfil my own responsibilities," he said in a statement released by the Fund.

"But I must stress that I do not have the money to pay for this," he said.

The punishment for delivering a false bid probably won't be too harsh, said the Times UK. Cai might lose some respect in the art world and his next bid will probably be viewed with suspicion (especially if it's over a “stolen Chinese artifact”), but Christie's is unlikely to sue.

In cases where people bid past their ability to pay, Christie's tends to just hand the items to the underbidder. Wouldn't it be funny if that person turned out to be a Chinese patriot too?

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Comments [rss]

  • larboard

    Bravo to Cai who did the right thing to teach Christie and the Freedom Fly a lesson. Don't hold China ransom by blowing up the value of the looted relic sky high. With eight million Euros to start the bid. How greedy! How thuggish!

  • taihanasie

    On the subject of face, I think many Chinese probably don't understand (or care) the way this act will be perceived in the West. Cai's act has been praised by the Chinese. However, this can't give Cai or other Chinese bidders a good reputation among auction houses. Why does this matter? Because Chinese bidders bid on much more than overpriced, over-controversial bronze fountain heads. Just throw in a few more cases of copycat Chinese bidders doing the same, and Chinese may find themselves disadvantaged in more future bidding.

  • thedonald

    I hear Christie's gave Cai the old "Justa lookie-lookie? No, you buy now! You buy now!"



    Cant blame him from walking away.

  • James Creegan

    ZING!

  • The national treasures of the Qing dynasty? The invading foreign army that cut off Han Chinese's heads if they wouldn't shave them and grow ponytails? That one? Didn't they nearly bankrupt the country spending large sums of the treasury buying useless crap to put in the Summer Palace instead of investing in modernization efforts. I seem to remember Sun Yat-Sen writing something about them, but maybe I'm remembering wrong.

  • ccyy

    Since when is being a deadbeat patriotic? This dude probably thought he earned some precious face for his fellow countrymen.

  • RUSHOUR1

    seems 44% of french who favor returning the animal heads to china also "earned some precious face" for chinese.



    http://www.lefigaro.fr/culture/2009/03/02/03004-20090302QCMWWW00587-vente-ysl-berge-les-bronzes-doivent

  • EL JEFE

    If he was a true patriot, wouldn't he have bought the things? Sheesh...

  • taihanasie

    Once again, this confuses morality with legality. What French people feel is not related to whether or not the auction was legal and the principle that you pay for what you bid for, which is central to auctions. Tycoon Stanley Ho understands this at least. He earned face all around by demonstrating his patriotism (or desire for brownie points) WHILE respecting auction house rules and the right of the legal owner to sell. If someone deserves the praise of the Chinese for a bronze-related action, it is him, not Cai.

  • RUSHOUR1

    above reply was addressed to nanheyangrouchuan.

  • RUSHOUR1

    you are too idiotic to know mr. Cai Mingchao the well-known art buyer and collector, is able to buy back all the lost heads with this price. but he'll not since he is eagerly waiting for a lawsuit from christie side. smart guy.

    meanwhile, i am very happy to see somebody is organizing 3000-5000 self-paid vunlunteers to harass museums in london in 2012 olympic. who said toilet tissues can be hang only in beijing's lamp posts?

  • BBC1

    Kudos to this Chinese patriot, who basically told Berge to stick his Free Tibet fetish up his derriere. Well done!

  • nanheyangrouchuan

    And where are the Chinese who could afford these heads? Guess they aren't worth the trouble. The controversy makes them worth more than their artistic or material value.

  • LoveChinaLongTime

    Chinese guy not honoring a contract? Where's the news?

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