A CARLOW FAMILY had a bonanza straight out of an episode of 'Only Fools and Horses' last week when an antique Chinese vase that was auctioned with a guide price of just €150 ended up selling for a whopping €110,000.

The vase was part of a collection amassed by two sisters, now deceased, while they lived in the USA during the 1940s and 50s. It was offered for sale last week by the Durrow-based Sheppard's auctioneers, and was bought by an antiques dealer from London. Other experts say it could be sold on again for as much as €3 million.

IT WAS THE STUFF of Del Boy's dreams – that an auld vase that had been sitting in a cupboard gathering dust for years could be worth a few bob.

But not even the Only Fools and Horses character could anticipate that the vase – which had a guide price of just €150 but sold for €110,000 – could in fact be worth millions.

'The buyer could get about £3 million (€3.3 million) for it if he sold it again, most probably to a member of the Chinese elite,' Philip Sheppard, the auctioneer who last week sold the vase, said.

The vase was just one lot of Chinese ceramics that went under the hammer in Sheppard's Durrow-based auction house after a Carlow family decided to sell off just some of their family heirlooms.

But the dream isn't over yet because the family also intends to sell off the rest of their collection, anticipated to be far, far more valuable than in their wildest dreams.

Collector Richard Peters, who shelled out €110,000 for the blue and white receptacle, he reckons he got a bargain because the piece of china is the real deal and not just a good fake.

After the auction, he hightailed it back to London where he intends to sell it on himself, in a market that's buzzing with excitement about the unexpected find of precise Chinese ceramics.

Another pair of vases, valued in the catalogue to be about €150, was also sold to Mr. Peters at an impressive €44,000.

After one day's selling at Sheppard's Irish Auction House last week, the Carlow-based family are richer by 'the guts of a quarter of a million', according to Philip Sheppard whose company motto is 'Paradigm of the unexpected'.

Speculation as to the identity of the family is running rife as news about the unexpected windfall broke.

'The family initially didn't even want us to say that they were from Carlow,' a tightlipped Philip said. 'One of the reasons why we got the sale is because we assured them of their anonymity. They'd no idea what their collection was worth.'

What is known is that two sisters from County Carlow amassed the considerable collection of Chinese ceramics while they lived in the USA during the 1940's and 1950's. Now deceased, the antiques passed onto their family in Carlow who then put them under the hammer last week.

Though the family itself had no idea of the fortune they were sitting on, Sheppards, whose expertise is in furniture and not ceramics, weren't taking any chances.

They contacted a list of known experts and collectors about the upcoming auction, posting photographs and details about each piece on their website and in their catalogue. By the time Tuesday's auction rolled around, considerable interest had been stirred about the pieces.

Experts across the globe had began to request further and further details about pieces while photographs of minute details were subsequently dispatched to them. ' Chinese ceramics are awash with fakes and counterfeits,' Philip continued. 'We work on the basis that what we have are actually fakes and evaluate them on how good they are. However, because the pieces could be real, we also contact clients worldwide to let them know what we have. Up to 20 or 30 pictures could be sent to a dealer before he decides to attend or not.'

One collector, Rong Chen flew from Beijing to Durrow to check out the most valuable vase and spent days studying certain pieces.

Once the vase came up for sale, she engaged in a frantic bidding war against London ceramic expert, Mr. Peters. Mr. Peters, who walked away with the ¤110,000 vase under his oxter, now looks like he got it for a steal. Two other buyers, one from the States and the other from the UK also lusted after the bulbous vase but 'they didn't get a look in.'

Philip said that the family were understandably pleased and yes, they were surprised but the story isn't over just yet.

The Carlow family have yet more Chinese treasures to offload when Philip Sheppard and his family have the task of selling them off on a date yet to be set.

Better book your seats now because no doubt, it'll be a full house.

- Elizabeth LEE