The Chinese collector who submitted the winning bid for two antique bronze animal heads looted from Beijing said he has decided to quit the auction community because he is ashamed to face his peers.
The bidder, Cai Mingchao, told talk show hostess Yang Lan that he feels something like a thief when he meets industry insiders. People in the industry know each other well, and he feels uncomfortable after the controversy he generated, Cai said during the interview, which aired on Monday on Dragon TV.
Cai, a Chinese antiques collector, identified himself as the winning bidder five days after the February 25 auction by Christie's in Paris, but he said he would not pay for the items.
Conflicting stories
Nevertheless, Christie's sent him a bill demanding that he pay 31.49 million euros (US$39.6 million), 14 million euros for each of the heads plus commission.
At first, he said his involvement was a patriotic act. But he later said he would not follow through because the relics might not be allowed to enter China following newly imposed checks on Christie's by the State Administration of Cultural Heritage. After Chinese authorities said that would not be a problem, Cai said he would still not complete the purchase.
Cai said he knew he had broken the rules and that his own auction house faces a tough future. He expressed sorrow for disturbing so many people and is willing to accept all legal consequences.