Massive Japanese Arita porcelain punch bowl decorated in underglaze blue with four alternating dragon and phoenix panels surrounded by a dense background of floral and geometric forms set against a white ground. The center features a treasure ship among kiri (pawlonia) crests, flaming pearls, and patterned balls. The outer wall holds four floral sprays set between bands at the rim and foot. A double foot ring base dates the bowl to circa 1870 (early Meiji period). 20 1/4" diameter x 7 1/4" high. Excellent condition with only typical minor production flaws. From a Scottsdale, Arizona estate.