British collector paid under £100 for pendant; it later sold for £75,800
A rare 18th-century Rapa Nui ceremonial pendant, purchased for under £100 at a provincial auction, was later identified by experts and sold for £75,800. The piece, known as a rei miro, is a significant cultural artifact from Easter Island.
Why it matters
The story highlights the importance of expert appraisal in identifying historical artifacts and the significant market value placed on rare cultural heritage items.
A damaged wooden pendant bought for less than £100 at a provincial auction has sold for £75,800 after specialists identified it as a rare piece of Rapa Nui ceremonial jewellery.The collector spotted the 10.5-inch object at a UK auction house about eight months before its resale. He placed a low opening bid and secured it without competition because no other bidders showed interest.The buyer later took the pendant to Woolley & Wallis, a specialist auction house in Salisbury, Wiltshire, where experts identified it as a late 18th- or early 19th-century rei miro, a ceremonial ornament from Rapa Nui, also known as Easter Island, The Independent reported.The piece was valued at £10,000 to £20,000 despite missing one of its two heads.
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