拍賣筆記 vol.313 蘇富比倫敦2021：唐三彩大馬（68cm），35.28萬英鎊（約370萬港元）售出 - Sotheby’s London 2021, Tang Dynasty Large Sancai Horse, Sold for 352,800GBP
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2021 年蘇富比倫敦兩件唐三彩大馬清楚顯示，當市場面對同一母題時，尺寸仍是最具決定性的價值變量。在完成度與真偽可信度相當的前提下，75 公分以上的三彩馬，已自然進入博物館級價格區間；65–70 公分級別則構成高端私人收藏的主流核心。
PROPERTY FROM AN ENGLISH PRIVATE COLLECTION
唐 三彩馬
UK: Greenford Park Warehouse
Auction Closed
November 4, 01:23 AM HKT
Estimate
300,000 - 400,000 GBP
Lot Sold
352,800 GBP
Description
Property from an English Private Collection
A magnificent large sancai-glazed figure of a caparisoned Fereghan horse
Tang dynasty
唐代 三彩鞍馬
唐三彩
陶
高 68 公分
此件三彩鞍馬體量宏大，立姿穩健，四足分立於長方形基座之上。馬首施以轡具，微向左側轉動，雙耳豎立，神情警覺；額前鬃毛自中分開，披垂於一側，通體覆以草黃色釉。馬鞍墊施深綠色釉，表面刻意粗化以模擬皮毛質感；馬身肌理刻畫清晰，胸腹飽滿，主要施以濃厚栗褐色釉，其間滲入草黃色釉斑，自上而下自然流淌，形成富於動感的釉色效果。
整體造型著力於圓渾而富有張力的肌肉結構，比例協調，氣勢雄健。三彩釉以銅、鐵為著色劑，於白色化妝土之上呈現綠、褐、赭等色調的層次變化，充分體現唐代成熟而自信的陶塑與施釉技術。塑工與釉工相互配合，成功表現出馬匹的力量感與精神狀態，為唐代重要墓葬隨葬陶塑之典型代表。
在唐代社會制度中，馬匹既是軍事與交通資源，亦為身分與權力的象徵。當時嚴格的服制與等級法令，明確規定馬匹為士族與貴族之專屬財產，生前或死後擁有名馬，皆象徵墓主之顯赫地位。本件所表現者為文獻中所稱的名貴馬種，即來自中亞費爾干納谷地、以「汗血馬」著稱之大宛馬。隨著唐廷西向拓展，此類良馬以進貢形式進入中原，成為宮廷與貴族文化中極具象徵性的存在。
同類三彩馬例可資比較者甚多，例如：— 1963 年出土於洛陽關林二號墓之一件，直額前鬃，施釉與造型與本件相近，刊於《洛陽唐三彩》（北京，1980 年），圖版 72；— 一件體量略高、尾部打結者，出土於河南洛陽，現藏臺北國立歷史博物館（館藏編號 h30），曾展於 1995 年《唐三彩特展》，並見於劉良佑《中國陶瓷概論》第一卷封面；— 另有一件直額前鬃、足與尾部施不同釉色者，原藏以西結爾・施洛斯伉儷（Ezekiel Schloss）收藏，著錄於《Ancient Chinese Ceramic Sculpture: from Han through T’ang》；— 以及一件體量稍高、左肩帶有大面積乳白色釉斑者，原屬靜觀堂收藏，後藏聚藝堂藝術館，著錄於《徐氏藝術館藏·中國陶瓷（一）》圖版 90，並曾於 1986 年倫敦蘇富比、1997 年紐約佳士得及 2015 年再次於佳士得拍賣。
本件年代與牛津鑑定有限公司（Oxford Authentication Ltd.）出具之熱釋光分析報告結果一致（報告編號 C198k8）。
來源
倫敦蘇富比，1998 年 6 月 16 日，拍品編號 213。
保存狀況說明
四肢上下段均有修復；馬鞍前緣向後臀部斜向裂紋一側有補繪，另一側馬鞍墊橫向裂線延伸至後臀亦有補繪；鞍墊兩側前緣、額前鬃毛及右耳裂縫處均見補繪；尾部為後補新配；頸部下方環繞一圈裂紋並有補繪；後腿之間局部釉面缺失；馬鞍及鞍墊可見數道燒成裂，邊緣並有輕微磕碰。
一、橫向對比：蘇富比倫敦 2021 兩件唐三彩大馬
1. 基本數據對照
項目 | vol.312 | vol.313 |
拍賣行／場次 | 蘇富比倫敦 2021.5 | 蘇富比倫敦 2021.11 |
尺寸 | 77.5 cm | 68 cm |
成交價 | £414,300 | £352,800 |
約合港幣 | 約 450 萬 | 約 370 萬 |
估價 | £80,000–120,000 | £300,000–400,000 |
來源 | 1997 年前購自香港 | 蘇富比倫敦 1998 年 |
TL 檢測 | Oxford TL（C198s35） | Oxford TL（C198k8） |
要點：兩者同屬「大型唐三彩馬」等級，但市場定價邏輯明顯不同：vol.312 屬「低估價、高競價」結果；vol.313 則是在高估價區間內合理成交。
2. 尺寸與市場溢價
77.5 cm 與 68 cm 的差距，在唐三彩馬體系中並非線性差異，而是等級差異。
超過 75 cm 的完整立姿三彩馬，已接近博物館級別尺寸，其稀缺性遠高於 65–70 cm 區間。
市場判斷：
約 9.5 cm 的高度差，轉化為 約 60–80 萬港幣的價格差，屬於合理且可預期的「尺寸溢價」。
3. 造型與完成度
vol.312（77.5 cm）
體量更為雄渾，桶狀軀幹與四肢比例尤為突出
視覺氣勢接近博物館藏例
vol.313（68 cm）
造型嚴謹、完成度高
但在「第一眼震撼力」與空間佔有感上略遜一籌
4. 保存狀況與市場容忍度
兩件作品均有系統性修復，包括四肢、鞍墊、鬃毛、尾部等，且非隱蔽修復。
關鍵在於：
唐三彩大馬屬於「可接受修復類型」
市場核心評估順序為：
尺寸 ＞ 氣勢與造型 ＞ 年代可信度（TL）＞ 修復狀況
因此，修復並未構成價格決定性負面因素。
5. 估價策略與成交心理
vol.312
估價偏保守
吸引跨領域買家與機構級競投
成交價遠超估價上限
vol.313
估價已充分反映市場共識
成交價位於估價中上段，屬「理性成交」
二、FAQ（中英文對照）
Q1：為何兩件保存狀況都有修復，仍能賣到高價？
Why do heavily restored Tang sancai horses still achieve high prices?
中：大型唐三彩馬本屬高風險出土與流通器物，完整無修復者極為罕見。市場已形成共識：在尺寸、造型與年代可信度成立的前提下，可接受結構性修復。
EN：Large Tang sancai horses are inherently fragile, and intact examples without restoration are extremely rare. The market generally accepts restoration provided the size, modelling, and authenticity are secure.
Q2：尺寸對價格的影響是否被高估？
Is size overemphasized in pricing Tang sancai horses?
中：並未被高估。尺寸直接影響存世量、陳設氣勢與博物館對標等級，是唐三彩馬中最硬的定價因素。
EN：No. Size directly correlates with rarity, visual impact, and institutional comparables, making it the most decisive pricing factor.
Q3：68 公分是否仍屬「大型」？
Is a 68 cm horse still considered “large”?
中：是。68 公分已屬大型等級，只是未跨入「博物館極限尺寸」區間。
EN：Yes. At 68 cm it qualifies as a large example, though it does not reach the exceptional museum-scale category.
Q4：TL 檢測在市場中的作用有多大？
How important is thermoluminescence testing to the market?
中：對高價三彩器物而言，TL 是「入場券」，不是加分項；沒有 TL，基本不可能達到此價位。
EN：For high-value sancai pieces, TL testing is a prerequisite rather than a premium. Without it, such prices would be unattainable.
Q5：2021 年是否代表唐三彩馬的市場高點？
Does 2021 represent a market peak for Tang sancai horses?
中：更準確地說，2021 年是高端精品的結構性確認年，而非全面泡沫高點。
EN：Rather than a speculative peak, 2021 marked a structural validation of top-tier Tang sancai horses.
A magnificent large sancai-glazed figure of a caparisoned Fereghan horse, Tang dynasty
superbly modelled, standing four square on a rectangular plinth, the harnessed head turned slightly to the left with ears picked, the long mane parted at the forelock and falling to one side, covered in a straw-coloured glaze, the dark green saddlecloth roughened to simulate fur, the muscular body glazed predominantly in rich chestnut suffused with straw-coloured streaks
Height 68 cm, 26¾ in.
Condition Report
There is restoration to the upper and lower section of each leg, over-painting to cracks running diagonally down from the top front edge of the saddle to the rear haunches on one side and a horizontal line running across the saddle blanket to the rear haunches on the other side, some over-painting to the front edges of the saddle blanket on both sides, over-painting to both forelocks and to a crack through the right ear, a new section of tail, over-painting and a crack encircling the lower neck, loss to an area of the glaze between the rear legs, and several firing cracks to the saddle and saddle blanket and nibbles to the edges of the saddle blanket.
Provenance
Sotheby's London, 16th June 1998, lot 213.
倫敦蘇富比1998年6月16日，編號213
Catalogue Note
This magnificent horse is exceptionally modelled and glazed, the powerful body well-defined of rounded and muscular form, the fine sancai (three-colour) glazes dramatically running down its well-built body. The potter who sculpted and glazed this piece has aptly brought to life the horse's strong physicality and spirited nature, showcasing the superior craftsmanship achieved during the Tang dynasty (618-907). As a symbol of status and wealth, ownership of horses in life as in death reflected the high rank and importance of their owners at the time, when strict sumptuary laws declared the right to own horses as an aristocratic privilege. Horses of the most prestigious breed, known as ‘blood-sweating horses’, which is represented in the present piece, were sent to China as tribute from the Ferghana Valley in Central Asia during the Tang court’s vigorous expansion to the west. This magnificent horse figure is covered overall with the renowned sancai glazes, coloured with copper and iron to create a lively spectrum of greens and ambers over a white-slipped ground. It is exemplary of sculptures created for important tombs during the Tang period.
Compare a few closely related sancai horses glazed in similar colours and with a long mane, furry saddle cloth and elaborate trappings as the present piece; one with straight forelock excavated in 1963 at Guanlin Tomb no. 2, Luoyang, illustrated in Luoyang Tang Sancai / The Sancai Wares of the Tang Dynasty in Luoyang, Beijing, 1980, pl. 72; one with a knotted tail and of slightly taller size, excavated in Luoyang, Henan province and now in the National Museum of History, Taipei (accession no. h30), included in the Museum’s exhibition The Special Exhibition of Tang Tri-colour, Taipei, 1995, illustrated on the cover of Liu Liang-yu, A Survey of Chinese Ceramics, vol. 1: Early Wares: Prehistoric to Tenth Century, Taipei, 1991; another one with feet and tail glazed in different colours and again straight forelock, in the Collection of Mr and Mrs Ezekiel Schloss, illustrated in Ezekiel Schloss, Ancient Chinese Ceramic Sculpture: from Han through T’ang, vol. 2, Stamford, 1977, pl. V; and a slightly taller piece, with a large cream splash on the left shoulder as the present horse, but with a narrower neck and open mouth, from the Jingguantang Collection in the Tsui Museum of Art, illustrated in The Tsui Museum of Art. Chinese Ceramics I. Neolithic to Liao, Hong Kong, 1993, pl. 90, sold in these rooms, 10th June 1986, lot 15, and at Christie’s New York, 20th March 1997, lot 53, and again 16th March 2015, lot 3225.
The dating of this lot is consistent with Oxford Authentication Thermoluminescence Analysis Report no.C198k8.
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