Chapter 6: Kraak Porcelain (Part One)
That evening, the three men who had completed their first crossing held their inaugural debriefing. They produced formal minutes—as Wen Desi put it, they were making history.
Their conclusions were humbling. They had underestimated the wisdom of the ancients, done insufficient homework, and knew far too little about the Ming dynasty. Worse, they had relied too heavily on assumptions. Still, fortune had favored them: they'd found a suitable agent with relative ease.
As for trade, despite prices lower than expected, the profits proved better than feared once they ran the proper calculations. One tael of Ming silver weighed roughly 37.3 grams. Silver prices in their own time fluctuated, but at approximately three yuan per gram—retail ran 3.6 to 3.8, purchase price 2 to 2.6, taking the higher estimate—a single tael yielded about 112 yuan. Factor in fire-loss costs, since Ming silver was often impure and required re-smelting, and returns dropped somewhat, but remained substantial.
Selling a powder compact for ten taels meant roughly a thousand yuan per piece. Xiao Zishan had brought over two hundred of them; this single item could net two thousand taels—two hundred thousand yuan. The wholesale cost back home was a few yuan each. Negligible.
"We could flip this again," said Xiao Zishan, scribbling calculations on his paper. "The gold-to-silver ratio in the late Ming was around one to ten. Convert two thousand taels of silver to gold, and we'd get two hundred taels—7,460 grams. At 150 yuan per gram, that's over a million. Far more profitable than just selling goods."
"Gold circulation is limited, though," Wang Luobin said with regret. "You can't exchange for very much at once."
"There's something worth even more than gold," said Wen Desi.
"What?"
"Porcelain." He pointed at a Christie's auction notice in the newspaper. "Ming-dynasty porcelain—do I really need to explain?"
When a pale-faced servant came running, Master Gao knew at once that the three Australians had arrived again. Late at night, as before—materialized out of nowhere in the warehouse courtyard. Had they not come and gone in broad daylight on their previous visit, he'd truly have suspected ghosts or demons.
"Master Gao, the goods."
Servants had piled four or five cardboard boxes from the courtyard beneath the study veranda. Paper cargo boxes—this was a first for him. His heart pounded at the sight. Days earlier, driven by suspicion, he had secretly doused the sample merchandise with chicken blood. The next morning, every item remained perfectly fine—no transformation into dirt clods or wooden dolls. Only then had he allowed himself to relax.
"Steward Yan, inventory these," Master Gao instructed.
"Yes, Master."
The steward led the servants in opening the boxes. Each item lay wrapped in exquisite paper and neatly arranged. Master Gao nodded his approval. These Australian merchants were extravagant indeed—the packaging alone must have cost a small fortune.
The three visitors sat watching as the inventory proceeded. In the dim candlelight, Master Gao's Nanjing silk robe shimmered with each movement. Xiao Zishan found himself thinking inexplicably of burial garments and felt goosebumps rise along his arms.
Fortunately, they had prepared a gift. Once the inventory was complete and the figures verified, Wen Desi opened a box and produced a kerosene lamp—located with some difficulty at a handicraft shop for 120 yuan, their most expensive item. He poured in kerosene, then lit the wick from a nearby candle. The flame grew bright, and the dim study flooded with light.
Master Gao and his servants stood slack-jawed. Of everything the Australian merchants had brought, nothing impressed them as deeply as this simple lamp.
"This is called a kerosene lamp. A token of our appreciation."
"What a marvel!" Master Gao stepped closer, transfixed by the ball of white flame, dazzlingly bright, encased in transparent glass. "Is this made in your country? What is its value?"
Xiao Zishan reflected on humanity's primal yearning for light. The items they'd assumed would astonish the ancients had barely caused a ripple, yet this obsolete kerosene lamp left them thunderstruck—simply because it burned so much brighter than candles or oil lamps. What would Master Gao make of an electric light? The thought filled Xiao Zishan with sudden confidence in their crossing plans.
"Made in our country," Wen Desi smiled with a merchant's cunning. "Two hundred taels will suffice."
"A marvel!" Master Gao circled the lamp, mesmerized, turning the knob to dim and brighten the flame at will. He understood that this object, oddly shaped and fitted with expensive glass, was essentially just a common lamp. Yet it burned ten times brighter than any he'd seen, produced no smell or smoke, and could be adjusted with a simple turn. Were Australian craftsmen all reincarnations of Lu Ban himself?
A thought struck him. "This oil—this 'kerosene'—does Australia produce it?"
Xiao Zishan nodded. Master Gao was sharp; he'd grasped the crux of the matter at once.
"It does."
"The price?"
"Ten taels per bottle." A bottle was just one liter. They had no intention of launching a kerosene trade yet; a premium now would leave room for negotiation in the future. Back in Shanghai, retail lamp kerosene ran about 8.5 yuan per liter.
"The lamp is fine, but the oil..." Master Gao's face showed regret.
"One bottle burns for over a dozen hours. A month's supply would run ten or twenty taels. Hardly excessive."
"If only the oil were cheaper, I could sell this widely..." Master Gao was reluctant to let the matter rest.
Xiao Zishan laughed evasively, and Master Gao understood they wouldn't budge. Still, receiving the lamp as a gift along with twelve bottles of kerosene was a windfall. Perhaps vegetable oil could substitute—he would try it tomorrow.
Xiao Zishan demonstrated disassembly, maintenance, and refilling. Gao Ju had a young servant watch carefully, learn each step, and practice until he made no mistakes. Then they tallied the goods.
At the agreed prices, the total came to over three thousand taels. Xiao Zishan requested fifteen hundred in gold. Master Gao shook his head—it was the middle of the night, nowhere to exchange, and he had only fifty or sixty taels of gold on hand. They settled for sixty taels of gold in place of six hundred silver.
Xiao Zishan then proposed purchasing porcelain. This surprised no one—overseas merchants always wanted porcelain, and Master Gao's warehouse was piled high with the stuff. He ordered several hampers of export ware brought out.
Cutting the straw bindings, Xiao Zishan examined the pieces one by one. Drawing on the ceramics books he'd hastily read before crossing, he recognized them immediately as Kraak porcelain—classic late-Ming export ware.
What was it worth in their own time? An ordinary plate fetched several thousand yuan. On December 10, 2005, porcelain salvaged by Swedish diver Sten Sjöstrand from the South China Sea had been auctioned at China Guardian's "Ming Wanli and Qing Desaru Shipwreck Ceramics" session. Despite severe glaze corrosion from centuries of submersion, 214 pieces of Kraak porcelain achieved a 92% sale rate and brought in 2.727 million yuan. A single blue-and-white lotus-petal medallion dish with a bird-and-flower design sold for 55,000 yuan.
And here, brand-new Kraak porcelain filled several hampers before their very eyes.
They bought it all for less than twenty taels. Xiao Zishan and his companions cheered inwardly at the bargain; Master Gao laughed privately at these sea merchants who clearly didn't know the local market. Both sides walked away believing they'd gotten the better deal.
Before leaving, Wen Desi left two hundred taels and asked Master Gao to purchase a nearby house to serve as their base. The wormhole exit would be stationed there. Master Gao agreed readily.
After the merchants departed, Master Gao sat alone in thought for a long while, even turning away the concubine who came to invite him to bed. Purchasing a house was simple enough—but these people's identities remained murky. After pacing the room, he summoned his steward and ordered absolute silence regarding the Australian merchants. He also had the steward compile a list of every servant, footman, and maid who knew of their visitors. Anyone who let slip a word would face strict investigation and severe punishment.
Note: Information on Kraak porcelain comes from books by Mr. Ma Weidu.
(End of Chapter)