Last November, Austrian Auction House Ostelich Conducted Historical first camera auction in ChinaThe auction appeared as a smashing success, which has one type of leaka IIIG made for the headline items, the German army, selling in about $ 4 million.
However, Ostlicht now states that the auction was manipulated, long -standing Austrian company was motivated to isolate its relationship with its Chinese auction partner, Lidong Auction Limited, in a statement on its website, Ostlicht claims that Lidong Limited referred to the auction bid and consequences. The complete statement of Ostlich founder Peter Kolen is available below:
Dear friends, customers, suppliers, collectors and dealers,
In November last year, we got the privilege of playing an important role in organizing the first camera auction in China – in collaboration with the newly established Lidong Auction Limited and Mr. Jhuu (Richard) Lee in Shanghai. First, the auction appeared to be a major success, with impressive sales rates of 95% and several record prices.
However, for our great disappointment, we discovered a few weeks later that the bid and results were manipulated by our Chinese partners. Many were sold only in small numbers, while the published figures did not reflect the correct sales. The results shared by Lidong Auction Limited and other platforms are misleading and incorrect. In particular, Lidong Ltd. The website has recently gone into “Under Maintenance” mode. Given these serious irregularities, we immediately and officially ended our cooperation with Lidong Auction Limited in Shanghai.
For 34 years, I have dedicated my career to the camera business, and for 24 years, we have been organizing the auction – as the founder of the Westlicht and Ostlicht auction in Vienna. The reputation of this business is made on expertise, integrity, trust and respect for both buyers and sellers.
Maintaining a fair and transparent market is extremely important worldwide for all reputed auction houses, businesses and collectors. Unfortunately, the practices of Lidong Auction Limited have proved inconsistent with these fundamental values.
Please be sure that the auction of ostelich will continue its operation in Vienna with the highest level of professionalism and integrity. Our commitment to fairness and faith remains stable.
Thank you for your constant support.
Peter Koelin and Ostlich Team
Given that Lidong Auction Limited is dark, only one side of the story is available for now – Ostlichts. It is a regrettable chapter that was considered a great moment for Ostlich, Lidong and Chinese photography markets.
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