The four figures had been consigned by the descendents of the original purchaser, who was the great great grandfather of the vendors and held a diplomatic position in Peking between 1850 and 1870, when the items were acquired.
Mossgreen did recognise the value of the collection, by featuring the 26.5 cm high Imperial Chinese gilt-bronze figure of Avalokitesvara, (1426-1435), seated on a double-lotus throne (Lot 635 ), on the front cover of the catalogue, and this turned out to be the highest priced lot in the sale.
Estimated at $150,000 - $250,000, the bidding soared to $1 million, or $1,220,000 when the Mossgreen 22% buyers premium is added.
Prior to this, two large 16th century Ming Dynasty, Chinese gilt-bronze figures of Buddha, both 58 cm high (Lot 633 ) (Lot 634 ) had been sold for $329,400 and $264,800 (IBP) respectively against a common estimate of $25,000 - 40,000.
A Chinese gilt bronze figure of the Buddhist deity Vajravidarana (Lot 636 ) sold for $244,000 against the estimate of $60,000 - 80,000.
These four lots alone accounted for $2,061,800, over half the sale total of $3.9 million (IBP).
Mossgreen claimed an Australian auction record for lot 635, and the Antiques Reporter records only one sale over the last five years which exceeded this, the 2008 sale by Bonhams & Goodman of the ex-Jim Clark and Richard Attwood, 1963 Formula 1 Lotus 25 racing car, for $1,525,500 (IBP) which is not in the same genre.
In 2006 Bonhams & Goodman sold the World War One medals of Capt. A. J . Shout including a Victoria Cross, Military Cross and British War Medal for $1,195,000. These medals were bought by Kerry Stokes, and donated to the Australian War Memorial.
Mossgreen director Paul Sumner said that the collection was put up for tender and Mossgreen won the tender process to offer the collection for sale, based on their Asian connections, and their position as the leading auction house selling Chinese art Australia.
As well as experts Ray Tregaskis and Allan Rae, Mossgreen has a Mandarin speaking Asian art expert listed in their catalogue and have been building up Chinese connections over many years by exhibiting at Hong Kong antiques and art fairs.
Part 1 of the sale comprised the 214 lot Chinese Art collection of artist Colin Lanceley, where 127 of the 214 lots sold, for a total of just over $1 million.
Overall 442 of the lots in Mossgreen's Important Chinese Art sold, giving a clearance rate of 57%.