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Rare Chinese porcelain bowl sets auction record at $26.5 million

POSTED: Wednesday, April 4, 2012 - 9:30pm

UPDATED: Wednesday, April 4, 2012 - 9:34pm

Sotheby's set an auction record in Hong Kong for a rare Chinese ceramic bowl that sold for $26.5 million.

The flower-shaped bowl is 900 years old and is only one of five pieces from the kiln it was produced in.

"There’s only five pieces from that particular kiln in private hands today and this is the finest one,” Nicolas Chow, Sotheby’s, explained. “The last time Sotheby's offered a piece of Ruyao was 30 years ago already. So, collectors all around the world have been waiting for this opportunity for long time."

Hong Kong has become one of the biggest auction centers besides New York and London due to the booming Chinese economy.

The piece was sold to an anonymous phone bidder.

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