Still not paid for...
December 14 2011
Picture: Bainbridge's
The buyer of the $83m vase at Bainbridge's auction still has not paid up. Scott Reyburn in Bloomberg has an interesting article on why some Chinese collectors like to bid big, but pay late (if at all). He concludes with a witty poem doing the rounds at the moment in the trade:
The Chinese bid with verve and skill,
And hence rack up a mighty bill.
“The money’s coming soon” they cry
But oh, my friend, they lie, they lie.
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