Welcome Guest   |  Login   |   Signup
JG Logo
Thu, February 9, 2012
Archive Search

Little Interest in Indonesian Treasure
May 04, 2010

Belgian treasure-hunter Luc Heymans holding an ancient gold dagger handle with an arabic inscription, part of a treasure haul brought to the surface from an ancient shipwreck, at a showroom in South Jakarta. There has been little interest in the upcoming auction of the treasure, which has a reserve price of $80 million. (AFP Photo/Romeo Gacad) Belgian treasure-hunter Luc Heymans holding an ancient gold dagger handle with an arabic inscription, part of a treasure haul brought to the surface from an ancient shipwreck, at a showroom in South Jakarta. There has been little interest in the upcoming auction of the treasure, which has a reserve price of $80 million. (AFP Photo/Romeo Gacad)
Share This Page
8
0
0
2
Share with google+ :


Post a comment
Please login to post comment

Comments

Simon P
11:17am May 5, 2010

"Why is there always an Indonesian way of doing things that inevitably manages to become a farce?"

I guess because it's generally a way of not doing things.

peterR
8:48pm May 4, 2010

Why has this not been put with an International and reputable auction house who would promote it properly and professionally? Why is there always an Indonesian way of doing things that inevitably manages to become a farce?

  • Previous
  • 1
  • Next

An auction of a 10th-century treasure trove worth an estimated 80 million dollars was in doubt Tuesday after Indonesian officials said no potential buyers had paid the hefty deposit required to bid.

The gems, crystal ware, gold and porcelain salvaged from an unidentified wreck off Cirebon, West Java, in 2004 is due to be sold in one lot by the Indonesian government in Jakarta on Wednesday.

Expressions of interest have come from collectors around Asia but none has paid the 16-million-dollar deposit, or 20 percent of the minimum sale price of 80 million dollars, by Monday’s deadline, officials said.

“There are 20 interested participants, including some from overseas. Those from abroad come from Singapore, Beijing, Hongkong, Malaysia and Japan,” Maritime Affairs Ministry official Sudirman Saad said.

“So far none of the interested parties has put down the security deposit but we will still hold the auction tomorrow ... If there are no buyers we’ll propose a second auction.”

Some 271,000 pieces are on sale including rubies, pearls, gold jewellery, Fatimid rock-crystal, Iranian glassware and exquisite Chinese imperial porcelain dating back to around 976 AD.

The Indonesian state will take 50 percent of the proceeds and the remainder will be shared among the salvagers, including Belgian treasure hunter Luc Heymans’ Cosmix Underwater Research Ltd.

Saad said the deposit requirement, the minimum bid or the lack of notice to potential buyers could be reasons that no parties had confirmed their participation.

Agence France-Presse