Christie's on Monday declined to comment on the bidding for two looted imperial bronzes auctioned off over China's objections, following the Chinese bidder's refusal to pay his bid.
Related: Chinese winner of looted relics auction decounces Christie's
"As the principle (of an auction house), we won't disclose the information of a seller or a buyer," Christie's said in an email to Xinhua.
It also refused to disclose any possible actions to be taken after Cai Mingchao, a collection advisor of National Treasure Funds of China (NTFC), refused to pay the 31.49 million euros (39.63 million U.S. dollars) he bid for the 18th Century bronze heads of a rat and a rabbit.
According to French law, it was possible for the two bronzes to be auctioned again.
Pierre Berge, the longtime partner of the late French designer Yves Saint Laurent, who was the owner of the two bronzes, told a French radio station that he would rather keep the pieces in case the auction failed.
Cai bid 14 million euros for each bronze by telephone at the Feb. 25 auction at Christie's.
Now the question is: What will happen if Cai doesn't pay?
Shan Jing, chief representative of Christie's Beijing office, said such a case would usually be submitted to the company's legal affairs department, and its lawyers would decide on the further course of action.
Wang Fenghai, chief lawyer at the China Association of Auctioneers, told China Daily that he is not optimistic about Cai's legal prospects.
"Theoretically, Cai is required to pay for the auction objects at the price agreed," he said. "In case of failing to do that, he is supposed to bear liabilities for default or, with the consent of ex-owner, Christie's may put the items up for auction again."
He added that Cai might be asked to pay the commission for the sale, estimated at 7 million euros for the 30-million-euro deal.
Kate Malin, a spokeswoman for Christie's in Hong Kong, would not comment as to what action the auction house would take, but said: "If someone doesn't pay, we try to work through the process with the buyer and the seller.
"No lot will be released until the outstanding amount due to Christie's has been received and the funds are cleared," she added.
Gan Xuejun, general manager of Beijing Huachen Auctions, said Cai's reputation in the auction business could be ruined, adding Christie's may take legal action to pursue payment from him.
The sculptures disappeared when the Old Summer Palace (Yuanmingyuan) was burned down by Anglo-French allied forces during the Second Opium War in 1860.
China has repeatedly demanded the return of the bronzes. However, Christie's held the auction after a court in Paris turned down a motion by Chinese lawyers to stop the auction.
So far, five of the 12 bronze animal heads have been returned, while the whereabouts of five others are unknown.
(Xinhua/China Daily March 3, 2009)
