Indonesian treasure auction fails to sell artifacts

Published on May 5th, 2010 | by Admin

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gavel

An Indonesian auction to sell over 270,000 treasures recovered from a 10th century Chinese shipwreck failed to attract a single bidder.

Organisers had hoped the sale would raise $80m (£52.7m), which would have been one of the largest sums raised at auction in the country.
Officials said there had been some 20 expressions of interest but no-one paid the $16m deposit required to bid.

They said a second sale would be held at a later date.

The treasure, found on a 10th Century Chinese ship off the coast of West Java in 2004, is believed to be one of the largest troves ever found in Asia.

In total some 271,000 items were being offered at the sale in the capital, Jakarta.

“Ceramics account for about 90% of the findings,” Aris Kabul, secretary of the auction committee had told Reuters.

Others items include delicate jewel-studded gold jewellery, crystal ware and swords with Arabic inscriptions.

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