A mid-17th century cabinet expected to fetch €1 million at an auction in London yesterday failed to reach its guide price and was withdrawn.
The Ballyfin Cabinet, housed for centuries in Ballyfin, Co Laois, was unveiled to the public for the first time in 200 years last night with a guide price of between £500,000 (€724,000) and £800,000 (€1,158,000).
Following a final bid of £320,000 (€463,000), Bonhams auctioneers withdrew the cabinet to allow for discussions with the vendor. It may now be sold at private auction.
A spokesman for Bonhams last night described the Ballyfin Cabinet as "one of the most important items of furniture to come to the market this century", adding that it was a "very very rare" item.
Since the sale of Ballyfin House in the 1920s, the family has preserved the cabinet, which is in pristine condition.
Made in Augsburg in about 1660, the cabinet, made of ebony, silver and pietra dura, is one of only 12 such cabinets known to exist today. It is believed to have been purchased by Sir Charles Henry Coote, ninth baronet for Ballyfin, in the first half of the 19th century.
Such cabinets were made to reflect the social standing, intellect and wealth of the commissioning patron, and were fashioned from the most expensive materials.
So complex is the design of the Ballyfin Cabinet that the owner only recently discovered a new compartment when exploring the cabinet with his grandchildren. This compartment housed collections of "curiosities", including natural history artefacts, precious stones, metals, minerals and scientific instruments.