March 18 (UPI) — A New York auction house said a 15th century Chinese bowl bought for $35 at a yard sale was auctioned for $721,800.
Sotheby’s said the small floral bowl, purchased from a Connecticut yard sale for $35, had been expected to sell for up to $500,000 when it was sold as part of the auction house’s Asia Week, but it exceeded expectations by fetching a top bid of $721,800.
The selling price was nearly 29,000 times the price that it was purchased for at the yard sale.
The seller, who was not identified, told Sotheby’s he bought the bowl at a New Haven yard sale in 2020 and sent photos to auction specialists to determine whether it was potentially a valuable antique.
The porcelain bowl was identified as a “lotus bowl” from the court of the Yongle Emperor, who ruled from 1403 until 1424. Sotheby’s said only six other lotus bowls from the same period are known to still exist.