by OUR OWN REPORTER
A 'rare' 18th Century Chinese three-legged pot, said to have been stolen when the country's Imperial Palace was ransacked during the second opium war is being offered for sale online with a price tag of £30 million by a company with close links to bankrupt businessman Martin Frost.
The recently developed website of Frost Books & Artifacts (FBA), a business concern with premises in Bar Street, Scarborough, offers 3,500 rare and antique books for sale as well as over 500 tapestries, weapons and ancient artifacts.
But the undoubted star item of stock is that Oriental relic which carries the description: "Chinese. Three legged pot. 'Mayo'. Date: 18th Century; size (cm) 25 X 25 X 25. Condition, Excellent. £30,000,000.00. History & Background. Commission sale by FBA on behalf of a third party".
Shareholders in the Avocet group of companies, formerly chaired by Mr Frost, will already be familiar with the so-called Mayo Pot for it was featured in a letter he sent to investors only three months ago.
On September 21st - a month before his bankruptcy hearing - Mr Frost wrote: "The Frost family is donating one million pounds to the crowdfunding entity being setup by my colleague Dr. Bob Jennings. This crowdfunding entity is non-profit making and will give money to deserving individuals caught up in any web of insolvency practitioner deceit.
"The Frost family is donating a further one million pounds to promote a commercial enterprise to offer third party finance which overcomes the difficulty a claimant might have in bearing the often-high costs of litigation. Further publications shall explain.
"The Frost family is donating ten million pounds to an Irish institution to seed corn finance the Avocet ‘hydroponics’ & ‘heathy beef’ concepts."
He then went on to describe how this largesse would be financed.
The newsletter stated: "Frost funding to the above derives from the ‘Mayo Pot’ sale. By arrangement, on Thursday 23rd September 2021 the ‘pot’ will be lodged with a Leeds solicitor. Subject to internal agreement, the Frosts have mandated its sale subject to an export license.
"Note: an Irish ancestor of my mother, Lord Mayo, basically stole it from a mate who had physically sacked China’s Imperial Palace during the Second Opium War.
"Some years ago, Sotheby’s valued the ‘pot’ at over £30 million – two similar pots have recently gone to Chinese collectors for over £40 million. In 2018 & 2019 the family discussed the ‘Mayo pot’ sale with accountants Ryecrofts of Newcastle who thought the wisest thing for the Frost family to do was to tax efficiently sell the ‘pot’. Bottom line if sold tomorrow one should expect net of tax and fees some £20 to £30 million depending on who turns up to the auction."
It appears the extremely valuable artifact did not sell in September although presumably it remains in the ownership of the Frost family.
Companies House records show the sole director of Frost Books & Artifacts Ltd. is Lancashire accountant Paul Newsham who has also served on the board of a number of Avocet businesses. The shareholders in the book selling and antique business are two of Mr Frost's relatives.
A Facebook post by Advantage Web Designs, of Scarborough, the firm which designed the FBA website gives further details about the Bar Street operation.
Advantage state: "We'd like to say a big thank you to Martin and Janet Frost, of Frost Books & Artifacts for asking us to work with them on a brand new website. They have taken their first step in to selling rare books and artifacts online.
"They already have a small shop and see this as a way of expanding their business and drawing in customers from all over the world. They stock a wide range of rare books and artifacts from around the world. Prices range from £30 to £30 million with free shipping for all items costing £150 or more."
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