A small porcelain bowl bought for $35 at a jumble sale in the US state of Connecticut turned out to be a rare, 15th century Chinese artefact worth between $300,000 and $500,000. It is about to go up for auction at Sotheby's.
The white bowl adorned with cobalt-blue paintings of flowers and other designs is about 16 centimetres in diameter. An antiques enthusiast found the piece and thought it could be something special when browsing a jumble sale in the New Haven area last year, Sotheby's said.
The piece, one of only seven such bowls known to exist in the world, will be up for auction in New York on March 17 as part of Sotheby’s auction of important Chinese art.
The buyer, who is not being named, paid the $35 asking price and later emailed information and images to Sotheby's asking for an valuation.
The auction house's experts on Chinese ceramics and art, Angela McAteer and Hang Yin, receive many similar emails every week, but this was one of the kind they dream about.
“It was immediately apparent to both of us that we were looking at something really very, very special,” said Ms McAteer, Sotheby’s senior vice president and head of its Chinese works of art department.
"The style of painting, the shape of the bowl, even just the colour of the blue is quite characteristic of that early, early 15th century period of porcelain."
The experts confirmed the bowl was from the 1400s when they were able to look at it in person. There are no scientific tests, only the trained eyes and hands of specialists.
The bowl was smooth to the touch, its glaze was silky and the colour and designs are distinctive of the period.
“All the characteristics and hallmarks are there that identify it as a product of the early Ming period,” Ms McAteer said.
Ms McAteer and Mr Yin determined the bowl dates back to the early 1400s during the reign of the Yongle Emperor, the third ruler of the Ming Dynasty, and was made for the Yongle court.
The court was known to have ushered in a new style to the porcelain kilns in the city of Jingdezhen and the bowl is a quintessential Yongle product, Sotheby's said.
The bowl was made in the shape of a lotus bud or chicken heart. Inside, it is decorated with a medallion at the bottom and a quatrefoil motif surrounded by flowers.
The exterior includes four blossoms of lotus, peony, chrysanthemum and pomegranate flower. There are also intricate patterns at the top of both the outside and inside of the bowl.
Five of the other such bowls known to exist are in museums. No others are in the US.
There are two at the National Palace Museum in Taipei, Taiwan, two at museums in London and one in the National Museum of Iran in Tehran, Sotheby's said.
How the bowl ended up at a Connecticut jumble sale remains a mystery. Ms McAteer said it was possible it was passed down through generations of the same family who did not know how unique it was.
“It’s always quite astounding to think that it kind of still happens, that these treasures can be discovered,” Ms McAteer said.
“It’s always really exciting for us as specialists when something we didn’t even know existed here appears seemingly out of nowhere.”
Dark Souls: Remastered
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Price: Dh199
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Name: Peter Dicce
Title: Assistant dean of students and director of athletics
Favourite sport: soccer
Favourite team: Bayern Munich
Favourite player: Franz Beckenbauer
Favourite activity in Abu Dhabi: scuba diving in the Northern Emirates
European arms
Known EU weapons transfers to Ukraine since the war began: Germany 1,000 anti-tank weapons and 500 Stinger surface-to-air missiles. Luxembourg 100 NLAW anti-tank weapons, jeeps and 15 military tents as well as air transport capacity. Belgium 2,000 machine guns, 3,800 tons of fuel. Netherlands 200 Stinger missiles. Poland 100 mortars, 8 drones, Javelin anti-tank weapons, Grot assault rifles, munitions. Slovakia 12,000 pieces of artillery ammunition, 10 million litres of fuel, 2.4 million litres of aviation fuel and 2 Bozena de-mining systems. Estonia Javelin anti-tank weapons. Latvia Stinger surface to air missiles. Czech Republic machine guns, assault rifles, other light weapons and ammunition worth $8.57 million.
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Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer