A Shanghai collector bought a rare Ming Dynasty cup touted as the "holy grail" of China's art world for $36 million at a Hong Kongauction on Tuesday, smashing the world record price for Chinese porcelain.
Sotheby's said Liu Yiqian was the winning bidder for the small white cup, which measures just 3.1 Inches in diameter and is more than 500 years old.
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The vessel is known as a "chicken cup" because it's decorated with a rooster and hen tending to their chicks. It was made during the reign of the Emperor Chenghua, who ruled from 1465 to 1487. Sotheby's said there are only 17 such cups in existence, with four in private hands and the rest in museums.