Exhibit 12.1

Certification
Pursuant to Rule 13a-14(a) of the Exchange Act





I, Diana Chia-Huei Liu, certify that:



| | 1. | I have reviewed this annual report on Form 20-F of Prime Acquisition Corp.;
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| | 2. | Based on my knowledge, this report does not contain any untrue statement of a material fact or
omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements
were made, not misleading with respect to the period covered by this report;
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| | 3. | Based on my knowledge, the financial statements, and other financial information included in this
report, fairly present in all material respects the financial condition, results of operations and cash flows of the company as
of, and for, the periods presented in this report;
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| | 4. | The company’s other certifying officer and I are responsible for establishing and maintaining
disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial
reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the company and we have:
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| | (d) | Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our
supervision, to ensure that material information relating to the company, including its consolidated subsidiaries, is made known
to us by others within those entities, particularly during the period in which this report is being prepared;
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| | (e) | Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed
under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of
financial statements for external purposes in accordance with generally accepted accounting principles;
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| | (f) | Evaluated the effectiveness of the company’s disclosure controls and procedures and presented in this report our conclusions
about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on
such evaluation; and
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| | (g) | Disclosed in this report any change in the company’s internal control over financial reporting that occurred during the
period covered by this report that has materially affected, or is reasonably likely to materially affect, the company’s internal
control over financial reporting.
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| | 5. | The company’s other certifying officer and I have disclosed, based on our most recent evaluation
of internal control over financial reporting, to the company’s auditors and the audit committee of the company’s board
of directors (or persons performing the equivalent function):
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| | (h) | All significant deficiencies and material weaknesses in the design or operation of internal controls over financial reporting
which are reasonably likely to adversely affect the company’s ability to record, process, summarize and report financial
information; and
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| | (i) | Any fraud, whether or not material, that involves management or other employees who have a significant role in the company’s
internal control over financial reporting.
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Date: April 30, 2012

| | By: | /s/ Diana Chia-Huei Liu      
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| |     | Diana Chia-Huei Liu          
| |     | Chief Executive Officer      
| |     | (Principal Executive Officer)