One of the greatest objects of the day would have left me more hesitant. Figural carved lacquer of the 13th to 14th centuries ranks among the great achievements of China. Japan greatly admired it — and in turn created masterpieces derived from it, with an added thrust typical of Japanese aesthetics. On March 19th, a red lacquer dish carved with two ducks in flight amidst blossoms had explosive force.

Christie’s ascribed the masterpiece to the Yuan dynasty, which ruled China from 1279 to 1368. Is it really Chinese? Perhaps. However, the lacquer piece was consigned from Japan. True, a dish with an identical pattern carved in black lacquer is in the British Museum, where it is also called Chinese. But that merely invites the question about the second piece too — both clearly originated in the same workshop. Never mind: In the art lover’s eyes, the question of national provenance counts for relatively little. What matters a great deal is condition. Multiple cracks raise serious conservation problems. Had it not been so, it would have made a lot more than the $146,500 it fetched. I would most probably have found its beauty irresistible, and then spent months marveling at the folly of ignoring its fragility.

Here is a tip, if you collect. Damaged goods can still be admirable. Problems only arise when you try to recover the capital invested in a moment of need.

"The Gems I Would Have Taken Home" originally appeared in the July/August 2009 issue of Art+Auction. For a complete list of articles from this issue available on ARTINFO, see Art+Auction's July/August 2009 Table of Contents.