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Vase smashed at Miami museum not worth $1 million as first reported

The vase smashed by a Florida artist at the Pérez Art Museum Miami is not worth $1 million as reported earlier this week.

The Chinese artist who created the vase, Ai Weiwei, tells the Associated Press he thought the value mentioned in a Miami police affidavit was "exaggerated." Turns out, he's right.

Media blogger Jim Romenesko talked with New York Times reporter Nick Madigan, who has been covering the story.

Madigan told him the police officer "tried to get someone at the museum to tell him the vase's worth so that he could write it in his report. But the people on duty at the museum that day had no idea, so the cop wrote '$1 million' as a blind, completely uninformed guess."

In his latest story, Madigan writes that museum director Thomas Collins said the vase's value had not yet been assessed for insurance purposes, and because it had never been sold, there was no actual value placed on it or the other 15 vases in the group. Reports that it is worth $1 million are baseless, he said.

A group of nine Neolithic colored vases painted by Ai in 2007 sold at Sotheby's in London in 2012 for $156,325, a price that included the buyer's premium, Madigan reported.

Vase smashed at Miami museum not worth $1 million as first reported 02/20/14 [Last modified: Thursday, February 20, 2014 9:06pm]
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