A $3 bowl for $2.22 million? That's exactly what took place in New York City. A rare Chinese bowl, purchased for $3 at a tag sale, was reportedly sold at auction for the astonishingly high price of slightly more than $2.22 million. According to a report on Tuesday (March 19) from The Associated Press, the auction estimate comes from Sotheby's, where the bowl was sold recently.
The bowl itself was said to have been purchased back in 2007 by a buyer who then put in on display in their home. It seems like the buyer wasn't quickly aware of the value of the bowl, though, having purchased it for only $3 at a tag sale. It turns out that the bowl itself is at least 1,000 years old and dates back to the Northern Song Dynasty. Nicknamed a "Ding" bowl, it was put on displays part of a fine Chinese ceramics and works of art auction on Tuesday.
Anyone selling a $3 bowl for $2.22 million has to feel pretty good about the return on that investment. It will be interesting if the media is able to figure out exactly where the bowl was purchased and whether the original seller knows just how much this rare ceramic Chinese bowl was just sold for. The sale price even exceeded the estimated $200,000 to $300,000 range that Sotheby's had thought would take place.
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