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Posted by Emily Jones

A probate valuation has led to the discovery of a rare Chinese vase, originally thought to be worth less than £1,000, which sold at auction for £53 million.

One initial estimate did not recognise the worth of the 18th century creation, which was left to the family by a brother who died earlier this year, the Daily Telegraph reports.

Following a second probate valuation, the Qianlong-era royal porcelain was given an approximate price tag of £1.2 million, an estimate that was bettered thanks to a bidding war between Chinese buyers.

The family may wish to make or alter a will as a result of the windfall, which puts their personal wealth roughly on a par with Kate Moss, though they have yet to pay capital gains tax.

James Hennessy, an antiques dealer with Littleton and Hennessy who lost to the winning bidder stated: "The guy was going to get this piece come hell or high water." 

15/11/2010 15:38