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| ▲ This Yonhap file photo shows the Portable Shrine of Gilt-bronze Buddha Triad, a national treasure that was up for auction in Seoul in January. (PHOTO NOT FOR SALE) (Yonhap) |
national treasure-ownership change
Korean national treasure sold after garnering no offers in auction
SEOUL, March 16 (Yonhap) -- One of the two national treasures that were up for auction by the financially struggling Kansong Art Museum but attracted no bids in January has recently found its new owner.
According to the website of the Cultural Heritage Foundation (CHA) on Wednesday, the ownership of the Portable Shrine of Gilt-bronze Buddha Triad, a Buddhist relic believed to be from the 11-12th century, has recently changed from the family of Jeon Hyeong-pil, the late founder of the museum, to a different name.
Still, the location of the Buddhist relic in Seoul and its custodian, museum and its operator, Kansong Art and Culture Foundation, remain unchanged.
"Judging from the treasure's current location, it seems to be under custody here," a CHA official said, adding foreigners can own South Korean national treasures but are prohibited from taking them out of the country by law.
On Tuesday, local cable network Channel A reported, citing the CHA, that an overseas branch of the Heritage DAO (Decentralized Autonomous Organization), a group of cryptocurrency-based investors who raise funds to jointly purchase artifacts, purchased the treasure and reported the ownership change to the authority on Feb. 23.
The news report also said the Heritage DAO then informed the authority of its intention to have the national treasure under the custody of the Kansong foundation.
CHA officials said they cannot confirm the Channel A report about the identity of the new owner and the custody, but said they received the report that day and completed the administrative process to legally change the ownership Tuesday last week.
The late founder's grandson Jeon In-geon, head of the museum, said negotiations are under way to have the national treasure donated to the Kansong side.
The two pieces were up for auction at the headquarters in southern Seoul of South Korea's second-largest auction house, K Auction, in January.
The bidding prices started at 2.8 billion won ($2.3 million won) for the Portable Shrine of Gilt-bronze Buddha Triad and 3.2 billion won for the Gilt-bronze Standing Buddha Triad with Inscription of Gyemi Year, but the auction quickly ended with no offers.
The second item appears to remain under the ownership of the Jeon family, as there was no change in the name of its owner on the CHA website.
The auction attracted high public attention, as it was the first time national treasures had been put up for sale.
The portable shrine, a miniature version of a Buddhist shrine inside a temple, is believed to have been made during the Goryeo Dynasty (918-1392), while the Buddhist statue is thought to be from the 6th century during the Baekje Kingdom (18 B.C.-A.D. 660), judging from the inscription on the back of the mandoria.
The two were collected by the late museum founder Jeon with his personal assets while Korea was under the Japanese colonial rule from 1910 to 1945. They were designated as national treasures in 1962.
Faced with financial difficulties, the museum has been selling works from its collection in recent years, including two rare Buddhist statues put on auction in 2020. The statues were purchased by the National Museum of Korea after they failed to attract bids in the auction.
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