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Topic: pu'er auction

Just in case anyone didn't see it already, I thought this post was interesting:

http://teamasters.blogspot.com/2009/01/ … ction.html

linking to this auction:
http://www.kongfz.com/auction/yuzhan_li … 2%F4%BB%E1

and this article:
http://www.puerlife.com/n-8729.html

Couple of random pictures:
Tóng Xīng Háo (同兴号) > 80 years old:
http://unionimg.kongfz.com/2/107/5311.jpg

whole tong of Jìng Chāng Háo cakes (敬昌号) > 80 years old:
http://unionimg.kongfz.com/2/107/5327-1.jpg

Cake of '50s Hong Yin (红印), no paper:
http://unionimg.kongfz.com/2/107/5372-2.jpg

Re: pu'er auction

it's too late to know the auction. But I still very appreciate for your information.
Do you know the final ( hammer) price for those teas?


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Re: pu'er auction

danluie wrote:

it's too late to know the auction. But I still very appreciate for your information.
Do you know the final ( hammer) price for those teas?

It looks to me like one of the links I posted, http://www.puerlife.com/n-8729.html has some of them (the final column (成交价) seems to list the actual price).

BTW, everyone's favorite skeptic marshaln (whose opinions / information I trust in these sorts of matters, and who I know has connections with at least one or two wholesaleers) mentions that he has heard these auctions are rigged:
http://www.teachat.com/viewtopic.php?p=88668#88668

Below, teachat / teadrunk member Nada mentions that he had an acquaintance who was going to sell tea in the auction:
http://www.teachat.com/viewtopic.php?p=88726#88726

I'm curious to see if he posts more details; it makes sense that vendors might like for certain teas to go for a high price at these auctions to justify their own prices.


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Re: pu'er auction

william wrote:

I'm curious to see if he posts more details; it makes sense that vendors might like for certain teas to go for a high price at these auctions to justify their own prices.

I agree, it does make sense that vendors with stocks these teas would like them to sell for a high price.  Since these teas are out of my league financially, it doesn't make much difference to me so long as it doesn't make cheaper cakes rise too much too.  Personally I'd be very happy for them not to - I'm still building my own collection. 

The wholesaler I know has many tongs of antique and masterpiece cakes and flies to several auctions & trade gatherings each year to sell them.  He seems genuinely to want to go and sell them.  One brochure he showed me included his cakes at Sothebys in Shanghai.  I find it difficult to believe major Auctioneers like this are holding rigged auctions (at least on the side of the auction house).  I guess there's no way of knowing what the individual vendors are doing on their side though.

Re: pu'er auction

I think these cakes that appear in major auctions are out of our league (at least for most of us) but it is quite likely that major holders in pu'er are holding fixed auctions.

Sellers will having people bid for them even in the respectable auctions to bring up the price is believable especially considering pu'er has become such an investment for so many people here in China.  There has been a number of articles in the mainstream western press about the pu'er bubble bursting (see New York Times earlier this month, and many other articles almost identical.) Pu'er is big business, or at least was.

It is interesting to note in the link William provided that most cakes did not reach their estimated prices. Many were at the low end of these estimates and none (if I remember correctly) surpassed the estimated values. Hopefully this means we can all enjoy some good quality cheap(er) pu in the years to come.

红焙浅瓯新火活,龙团小碾斗晴窗

Re: pu'er auction

Having worked at Sotheby's before, I wouldn't put so much faith in them.  While the auction house itself might not have anything to do with the rigging, the seller of the item and the fake buyers can easily drive up prices without much of a sweat.

7 (edited by nada 2009-01-31 05:54:37)

Re: pu'er auction

Of course - there's no way to control what the sellers do, in the same way that there's no way to stop them from putting a $1 million price tag on some 1999 Sheng cake in their shop.

I'm sure you know this already, but there's no harm in bringing up the topic...

Value is all relative, and monetary value is defined by how much someone is prepared to pay for something.  If consumers are willing to pay some price for something, then that item is worth that price to them.  Someone starving to death would gladly hand over a fistful of banknotes for a nutritious meal, but others might only be prepared to pay a small sum.

For the people who hold these cakes that are in short supply, the choice to sell or not to sell is theirs.  The price they would be willing to part with these cakes for is also theirs.  With a commodity that is not easily replaceable they have to weigh up what that cake is worth to them and what a certain amount of money could buy for them in return.

I heard of someone in Taipei who was offered 5 times the market rate for one of his old cakes, but he turned it down.  He had enough money, he didn't need more, but that cake was special to him - he couldn't buy another.  That cake was worth more to him than 5 times the normal market rate.

I agree though - it's likely that there could be some rigging going on by some people.  It doesn't matter to me because these cakes aren't worth that price to me.  They may be to someone else though but that's a decision each of us has to make for ourselves.

Re: pu'er auction

I have some stocks for PuErh from a 800-1000years olf PuErh trees.
The tea leaves were more than 10 years old.
Where's the best place to sell it?

Re: pu'er auction

Hello Weiseng, I am in mexico and  I want puerh and if is 15 years fermented better.

The tea world is opening internacionally, the properties of tea are excellent, any part of the world is good for sell the tea to the appropiate person for sell it.