Garage-Sale Find Nets Buyer $2.22 Million at Sotheby's

Source: Sothebys.com

A rare and important 'Ding' Bowl from the Northern Song Dynasty bought at a garage sale for $3 dollars, sells at auction for $2.25 million at Sotheby's, 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.

(Read More: 10 Commonly Faked Collectibles)

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

The person who put up the bowl 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.

(Read More: Hidden Riches—10 Sought-After Treasures)

The bowl is 5 inches in diameter, white in color, and from the Northern Song Dynasty.