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AK Files: Collectors Clamor for Imperial Jade

An 18th-century Chinese green jade seal associated with the Qianlong Emperor sold this week at an auction in London for 3.4 million pounds ($5.4 million).

Art collectors of ArtKabinett social network have witnessed skyrocketing prices in Asian antiquities.

Of double-gourd form carved with three dragons, the seal had been housed in the Hall of the Three Rarities (San Xi Tang) at the Forbidden City, Beijing, auction house Bonham's said. It had been offered by a private European collector with an estimate of 1 million pounds to 1.5 million pounds.

The buyer, making telephone bids, was underbid in the room by Taiwan-based dealer Arts of Chen.

Bonham’s 402-lot auction of Chinese works of art and ceramics, was estimated to raise between 8.5 million pounds and 12.7 million pounds.