An antique Chinese bowl fetched a whopping $38 million at auction on Tuesday. The purchase of the 900-year-old bowl, which was fashioned during the Song dynasty, sets a new auction record for Chinese porcelain, auction house Sotheby's said. An anonymous buyer placed the winning bid of 294 million Hong Kong dollars ($38 million), clinching the piece after a 20-minute bidding war in Hong Kong. The bowl had been expected to go for at least 100 million Hong Kong dollars ($13 million), according to Sotheby's (BID). The last piece, another Ru "ice crackle" bowl, sold at Sotheby's for 208 million Hong Kong dollars ($27 million) in 2012.

Source: CNN October 03, 2017 09:27 UTC