A rare Chinese teapot from the 18th century has sold for £2.6 million at Sotheby's in New York, ten times its expected price. The 250-year-old piece, from the Qianlong dynasty, is one of only two known to exist.
The teapot, which features a figure possibly depicting Emperor Qianlong being served tea while admiring a handscroll, was an ode to the emperor's love of tea. Bidding started at $250,000 and quickly surpassed $1 million as over ten bidders competed.
Angela McAteer, Head of Sotheby's Chinese Works of Art Department, said: 'The contest amongst more than ten bidders that pushed a 250 year-old teapot to $3.5 million reminded us of auction's unique magic.' The teapot was sold to an Asian buyer for $3,490,000.
McAteer added: 'As we saw throughout our two days of sales, the Chinese Art market remains robust, with major collectors deeply engaged in owning the finest examples of the country's artist heritage.' The piece had been enjoyed by an American collector for decades.
