Chiang Kai-shek medal fails to sell at Hong Kong auction

Chiang Kai-shek's wife Soong May-ling looks at his medals in the summer of 1943.

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A medal presented to late Republic of China leader Chiang Kai-shek in 1930 went unsold at an auction in Hong Kong Friday amid controversy over its authenticity.

The item on sale, the Order of Blue Sky and White Sun with Grand Cordon, was reportedly the only one among the more than 200 such military decorations that was awarded to Chiang and inscribed with characters meaning "Special One."

Anna Lee, who presided over the Spink & Son auction, brushed off the failure to find a buyer, saying it was not uncommon for auction houses to not sell collectibles on offer.

Asked if pricing was to blame, Lee said the floor price of HK$2.8 million (US$360,000) was relatively low given an earlier estimate of the medal's worth at between HK$3-5 million (US$387,000-$645,000).

Lee also dismissed the link between doubts over the authenticity of the medal and the failure to draw a bid, and reiterated that the medal was genuine.

Conflicting claims over the authenticity of the medal were raised before the auction, with Taiwan's defense ministry saying the medal given to Chiang was buried with the late ROC president in Taoyuan in 1975.

Chu Kang-ming, who helped appraise the medal for Spink & Son, insisted that the medal on offer was authentic and said the Ministry of Defense had not been able to produce evidence backing up its claim.

According to Chu, there are a total of 209 such medals and the one auctioned this time is the only one that is inscribed with the words "Special One." The other medals are inscribed with numbers.

The Order of Blue Sky and White Sun with Grand Cordon is awarded to military officers who make great contributions to safeguarding the Republic of China, which is now Taiwan.