The Ghostly Vanishing Chest in Shadowfen

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Here are the approximate coordinates where this magical chest is located.
Also, I'm on the PC platform.


Here's the chest while walking up the hill (heading east).


Poof goes the chest while walking a bit closer up the hill (heading east)


I back up from the chest walking down the hill (heading west)


I try heading to chest again to loot, no chest.



One last time down the hill, just to make sure I'm not seeing things.


What is going on here?

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Update. I think there may be an object rendering bug in Shadowfen.

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Now you see it.


Just back up ever so slightly and now you don't.

Nestor

This is an area of the game that is Phased or Changed depending on what Quest Choices you make. There are a few of these areas in the game where items ghost in and out near the borders of the areas that change. There used to be a Guild Trader in Greenshade that could not be seen at all post-quest, only pre-quest, for the area it was in.

Pyr0xyrecuprotite

There's a spot just west of the bridge west of the Redfur Trading Post in Grahtwood like this too. There is one of those random encounter (for Lightbringer etc. achieves) spawn points at the roadside there, and it is visible or invisible depending on which side you arrive from - and how close you get - and then it often disappears.