A "$3" Chinese bowl has auctioned for $2.2m at Sotheby's New York, as part of Asia Week.
Purchased for a mere $3 by a collector in 2007, the small pottery bowl was found to be a 1000-year-old "Ding" bowl, dating from the Song dynasty, which ruled China from AD960 to AD1279.
Sotheby's placed a conservative $200,000-300,000 estimate on the piece, but four bidders battled over the item, driving prices ever upwards at the March 19 sale.
The bowl ultimately sold to Giuseppe Eskenazi, a well known London-based art dealer.
If you are tempted to invest in this thriving market, see Paul Fraser Collectibles' guide to identifying fake Chinese ceramics.
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