Rare bowl purchased for $3 sells for millions in auction

Rare bowl purchased for $3 sells for millions in auction

Credit: AP Photo/Sotheby's Auction House

This undated photo provided by Sotheby's Auction House in New York shows a 1,000-year-old Chinese "Ding" bowl from the Northern Song Dynasty. /

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CBS News/AP

Posted on March 20, 2013 at 4:09 AM

Updated Wednesday, Mar 20 at 10:08 AM

NEW YORK -- A rare Chinese bowl bought at a tag sale for $3 has sold at a New York auction for more than $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 Tuesday.

Sotheby’s says it was sold to a London dealer for $2.225 million, far above the presale estimate of $200,000 to $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 5 inches in diameter, white in color and from the Northern Song Dynasty.

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