Cai Mingchao, a Chinese antique collector and an adviser to the National Treasures Fund, said he placed the winning bid for the two Qing bronzes auctioned in Paris last week and won’t be paying.
The National Treasures Fund is a group backed by the Chinese Ministry of Culture that pools donations to retrieve relics abroad.
Christie’s had proceeded with the sale of the Qing bronzes, severed from a water clock by marauding British and French troops from the Summer Palace in 1860, despite protests from China’s art advocacy groups, patriots and the foreign ministry.
The three-day sale of the magnificent Collection of Yves Saint Laurent and Pierre Berge at the Grand Palais, offered by Christie’s in association with Pierre Berge & Associates auctioneers, realised in total $483,835,144.
A remarkable 95.5% of lots sold by lot, and 93% sold by value, ArtDaily reports.
This historic sale set a world record for the most valuable private collection sold at auction, was the highest grossing sale in Europe on record, and set multiple world records for Impressionist and Modern Art, 20th Century Decorative Arts, Silver, Sculpture and Works of Art.
As usual, Yves Saint Laurent  launched the new fall winter 09/10 collection in Paris with a conceptual short film.
Created by Inez van Lamsweerde & Vinoodh Matadin, the film starred Indie actor and musician Michael Pitt, selected by YSL fashion designer Stefano Pilati.
The short, filmed in black and white, shows the Michael Pitt’s silent reactions to a voice outside the frame that talks about the collection and the garments.
The private collection amassed by the fashion designer and his partner Pierre Berge is considered one of the finest in the world.
Labeled the “sale of the century” by Christie’s, it will include over 700 lots with an estimated total value of €200 million to €300 million ($255 million to $380 million).
Berges and Saint Laurent met in 1958 and set themselves the goal of buying the best paintings and sculptures they could lay their hands on.
While the Chanel couture collection was inspired by paper, it was calligraphy that inspired the new Jean Paul Gaultier Spring 2009 Haute Couture collection.
Set to a huge screen with calligraphy images in motion, Gaultier introduced his dreamy couture creations that featured see-through fabrics, fishnets, embroideries, and high-waisted skirts and pants that illustrated the mastery of his craftsmanship.
Lace and embroidery were just some of the exclusive, meticulous details which came in black and white, like ink on paper.
Trousers turned into corsets, and silhouettes took on an 80s look with dresses, some of which were inspired by swimsuits.