Sotheby's Qing "Imperial Power" sale could net $55 million

HONG KONG (Reuters Life!) - A singular collection of imperial treasures once owned by China's powerful Qianlong emperor including jade dragon seals, military scrolls and a sword will be offered by Sotheby's this autumn in its Hong Kong sale.

Sotheby's "Legacies of Imperial Power" auction will feature a group of ancient seals from the reign of the Manchu Qianlong emperor (1736-1795) sourced from the family estate of French industrialist Emile Guimet, whose celebrated oriental art collection is now mostly displayed in the Musee Guimet in Paris.

The masterpiece -- a huge jade seal of two coiled dragons, carved from a square chunk of pure "mutton fat" white jade and etched with the four Chinese characters "Qianlong yubi" (in the Imperial hand of Qianlong) could fetch over $5 million.

Unique Chinese objects such as these, imbued with beauty and historical significance, have in the past attracted huge prices.

Last fall, another white jade Qianlong seal spurred ferocious bidding, eventually going for $5.9 million, a then-record.

Another highlight is a 15-metre-long Qianlong military handscroll the "Dayue Tu" -- painted with 16,000 miniature figures including the emperor himself on a white stallion in a "Grand Parade" of troops -- which could fetch over $10 million.

"It is a unique object and preserved in an ideal state," said Sam Shum, a Sotheby's Chinese art expert, noting the ancient scroll's echoes in Beijing's recent Olympic opening ceremony which featured a stunning giant rolling incandescent scroll.

Nicolas Chow, Sotheby's head of Chinese ceramics and works of Art said all 35 lots in the "Imperial Power" sale which also include a sword and suit of amour, could fetch $55 million.

Sotheby's has in recent years stood out for hosting theme sales of rarely seen and historic Chinese objects d'art.

Last fall, it brokered the private sale of a bronze horse head looted from Beijing's old Summer Palace in 1860, while in April a batch of ancient "Taoist" scholar's rocks and rare imperial gold items were sold including a Ming jewel encrusted gold tripod which fetched a staggering $14.8 million.

The Chinese art market has shown few cracks despite its protracted boom, bucking predictions of a correction amid roiled global financial markets.

Sotheby's and Christie's biannual Asia sales in Hong Kong are the world's largest sales of Chinese artwork and therefore seen as a key barometer of market sentiment. Sotheby's expects to rake in total sales of $256 million during its October 4-8 auctions.

(Reporting by James Pomfret; Editing by Sanjeev Miglani)