BEVERLY HILLS, Calif. – Records were shattered on March 17th at I.M. Chait’s Beverly Hills gallery as the family-owned company known for its expertise in Asian art auctioned the most expensive antique and achieved the highest gross in its 44-year history. The sale of Chinese ceramics and Asian works of art exceeded $3.4 million and was led by a highly important 14th-century Yuan Dynasty porcelain jar that sold for a breathtaking $1,342,000 (inclusive of 22% buyer’s premium). A prominent American collector placed the winning bid over the phone.

Magnificent and highly important 14th-century Yuan Dynasty blue and white ovoid porcelain jar with narrative scene from the Yuan zaju drama ‘The Savior Yuchi Gong.’ Sold for $1,324,000. I.M. Chait image.

I.M. Chait’s director of operations, Josh Chait, described a tense battle that pitted the ultimate winner against an Internet and absentee bidder, as approximately 100 guests in the gallery looked on.

“It was the same feeling as watching a high-stakes gambling event. There’s no way of knowing who will come out on top. Also, whenever there’s a phone or Internet bidder involved, you can never be sure what their limit is,” Chait said.

Beyond the million-dollar threshold, bids on the precious Chinese artifact increased in $10,000 increments. When bidding ceased at $1.1 million, presiding auctioneer and company founder Isadore M. Chait called out, “Going once – going twice – sold!” and brought down the hammer to thunderous applause.

“There was tremendous excitement,” Josh Chait said, describing the scene that followed. “Some 20 people swarmed around the glass display case to take pictures and video the jar for Chinese Facebook and Twitter – and for posterity. Shortly afterward, the Southern California affiliate for NBC called us. It didn’t take long for the story to get out.”

In spectacular condition, the 14-inch blue and white ovoid jar is a revered historical icon from China’s Yuan Dynasty period. Its decorative motif narrates a scene from the Yuan zaju drama “The Savior Yuchi Gong” and describes how General Yuchi Gong saved the Tang Emperor Taizong from assassination. Isadore Chait had correctly predicted the vessel would reach or exceed one million dollars at auction.

Several bronze, jade and furniture lots brought stellar prices, as well. Lot 224, a 7 7/8in spinach jade brushpot with a continuous landscape scene of sages in a courtyard, came to auction with provenance from the Cleveland Museum of Art Collection. Estimated at $35,000-$45,000, it rose to $122,000.

Lot 186, a highly important early 15th-century Ming Dynasty gilt bronze Bodhisattva of Manjushri with six-character Yongle mark under its base finished well within estimate at $274,500. A Sino-Tibetan gilt bronze shrine with jeweled borders and eight elaborately chased repousse Buddhist emblems, entered as Lot 101, was bid to $36,600 against an estimate of $6,500-$8,000. The 295-lot auction’s closer, a pair of Chinese huanghuali wood armchairs, settled at $43,750, more than six times the high estimate.

According to I.M. Chait’s records, most of the bidders taking part in the March 17 auction were either American or Chinese. Some had stopped over in Los Angeles specifically to attend the auction en route to Asia Week New York.

“Holding our annual Asia Week auction at the Beverly Hills gallery was something new for us,” said Isadore Chait. “For the past seven years we had held our sale in Manhattan, and it had developed a strong following with Asia Week’s visitors. Unfortunately, this year we weren’t able to secure a suitable auction space in Manhattan, so we decided to conduct our Asia Week sale right here at our West Coast gallery. Some thought it was a bold move.”

Chait admits that he initially had concerns about the change of venue and feared that not being right in the thick of Asia Week New York might have a negative impact on his company’s March 17 sale.

“In fact, it turned out to be just the opposite. It ended up being the highest-grossing sale in our entire 44-year history,” Chait said. “It’s very encouraging to see that collectors will flock to a sale – no matter where it is held – and spend their hard-earned money if world-class and one of a kind items are offered.”

To contact I.M. Chait Gallery & Auctioneers, call 1-800-775-5020 or 310-285-0182; or e-mail joey@chait.com. Visit the company online at www.chait.com.

BEVERLY HILLS, Calif. – The excitement of Asia Week New York, with its multitude of lectures, exhibitions and other special events, has attracted knowledgeable buyers from the Far East to Manhattan for the past seven years. Now dedicated Asian art aficionados who spend as long as 16 hours on an airplane to reach the US East Coast have a very tempting reason to add a Los Angeles layover to their itineraries. The I.M. Chait Gallery in Beverly Hills will be hosting a March 17 auction of Important Chinese Ceramics and Asian Works of Art to welcome those travelers to US shores.

“Many outbound flights from Asia to New York make a stop in California along the way. Since we were unable to participate in Asia Week this year due to the unavailability of a suitable auction space in New York, we decided to conduct our annual Asia Week sale right here in our Beverly Hills gallery,” said Chait founder Isadore M. Chait.

Chait explained that Asia Week’s agenda has expanded to the point that exhibition space is now difficult to secure – in his words, “a good thing, in one way, as it is a clear indication that the economy is improving and the Asian art market is robust.”

The I.M. Chait family and staff have left no stone unturned in preparing for the March 17 live auction, which also will be available to bidders via phone, Internet and absentee methods. The 295-lot sale is led by a premier Park Avenue (New York) collection of carved jades, early Chinese bronzes, ivories and fine ceramics. Also highlighting the event are Ming Dynasty porcelains (including 15th- and 16th-century examples) and carved jades from a second prestigious East Coast collection; and a collection of rare contemporary carved netsuke and Ojime pieces.

A European collection was the source of the auction’s centerpiece – a magnificent 14th-century Yuan Dynasty blue and white ovoid porcelain jar (Lot 144) decorated with a continuous equestrian warrior scene. A most exceptional and historically significant piece, its motif narrates a scene from the Yuan zaju drama “The Savior Yuchi Gong” and describes how General Yuchi Gong saved the Tang Emperor Taizong from assassination. Isadore Chait believes the vessel could reach or exceed one million dollars at auction.

Divine in more ways than one, a highly important early 15th-century Ming Dynasty gilt bronze Bodhisattva of Manjushri (Lot 186) wears an elaborately detailed crown, necklaces and earrings. A six-character Yongle mark is inscribed under the figure’s base. Estimate: $200,000-$300,000.

From China’s 18th-century Qianlong Period, a celadon with gray-black jade mountain (Lot 212) is masterfully carved with the scene of two figures in a boat amid rockery and clouds. A third figure of a man is carved in relief to render the effect that he is crossing a bridge. This artwork is expected to make $45,000-$55,000.

Another fine antique carved from celadon jade is the 18th-century Chinese marriage bowl on ornate hardwood stand (Lot 214). Of low, wide form with openwork bats and flowers on its handles, the bowl is decorated in relief with gourds and foliage that create the rebus “fulu shuangquan,” translated: “May both fortune and wealth prevail.” It is entered in the sale with a $40,000-$50,000 estimate.

A third celadon jade artwork of particularly fine quality is the Chinese carved tablescreen (Lot 287) with an image of flowering bushes and rocks on its front and a lacquered landscape scene on verso. The carving is handsomely presented in a carved hardwood frame of archaistic motif with dyed green bone and ivory openwork borders. Estimate: $8,000-$12,000.

Large and well modeled, an early Tang Dynasty model of a striding Bactrian camel (Lot 175), with mouth agape and separate bearded rider on saddle, stands 28 1/8 inches tall. It is accompanied by an Oxford TL Test Certificate and has a presale estimate of $25,000-$35,000. Extremely rare and dating to the Song Dynasty, a pair of pottery figures of seated generals (Lot 172), each wearing ornate armor and hats with removable finials, also comes with a TL Test Certificate (C-Link Research & Development Ltd). Estimate for the pair: $18,000-$24,000.

An example of symmetrical perfection in Chinese porcelain, a 21¼-inch-tall gu-form dragon vase (Lot 147) dates to the 16th-century Ming Dynasty. With a blue-on-white pattern that incorporates peonies, foliage and writhing dragons, the stately vessel bears the Wanli mark and carries an estimate of $35,000-$40,000.

The realistic artistry on many of the netsukes in the auction simply must be seen to be believed. For example, a carved wood sashi netsuke (Lot 29) depicting a tall armored warrior deity about to plunge a long sword into an oni at his feet is as intricately detailed as any full-size work by a master sculptor. Each strand of hair on the oni’s head is clearly visible, as is the musculature of his legs. This particular netsuke is signed and boxed, and comes with provenance from the Florida estate of Michael Earlman. It is estimated at $2,500-$3,000.

An impressive 7 7/8 inches tall, a spinach jade brushpot (Lot 224) is expertly carved with a continuous landscape scene of sages in a courtyard, with pavilions tucked amid rockery and pine trees. Formerly in the collection of the Cleveland Museum of Art and deaccessioned around 1950, the brushpot should realize $35,000-$45,000 at auction.

Isadore Chait, who spent the past year carefully hand selecting each piece for his company’s March 17 auction, said he is confident the event will be a great success. “Asian art buyers have become one united community. Although it is always a pleasure to see and be seen in New York during Asia Week, we know that the location of our auction room is of far less importance, now, thanks to new technologies and the choice of bidding methods that have been made available to Asian art buyers,” he said.

I.M. Chait’s Asia Week Important Chinese Ceramics & Asian Works of Art Auction will take place at the Chait gallery on Sunday, March 17, commencing at 1 p.m. Pacific Time. The gallery is located at 9330 Civic Center Dr., Beverly Hills, CA 90210. All forms of bidding will be available, including live via the Internet through LiveAuctioneers.com and Artfact.com.

For additional information on any lot in the sale or to obtain a fully illustrated color catalog ($35 + shipping), call 1-800-775-5020 or 310-285-0182; or e-mail joey@chait.com. Visit the company online at www.chait.com.