Chinese bowl, bought at tag sale for $3.80, sells for $2.75m

NEW YORK (AP) - A rare Chinese bowl bought at a tag sale for US$3 (S$3.80) has sold at a New York City auction for more than US$2.22 million.

The 1,000-year-old bowl was part of the opening session of Sotheby's fine Chinese ceramics and works of art auction on Tuesday.

Sotheby's said it was sold to a London dealer for US$2.225 million, far above the presale estimate of US$200,000 to US$300,000.

The person who put the bowl up for auction bought it at a tag sale in 2007 and had it displayed in the living room for several years before becoming curious about its origins and having it examined.

The bowl is 12.5cm, white in color and from the Northern Song Dynasty.