An imperial white jade seal fetched HK$95.86 million (US$12.23 million) on Thursday at a Hong Kong auction, smashing the world records for both white jade and imperial seal that ever went under the hammer.
The imperial jewel was inscribed "Tai Shang Huang Di" or "Supreme Majesty", referring to its user, the late Qianlong emperor (1711- 1799) of the Qing Dynasty (1636 -1911), China's last feudal kingdom.
It was put up for sale at Sotheby's HK Fine Chinese Ceramics and Works of Art Spring Sale 2010.
According to Artdaily.org, the bidding opened at HK$30 million. After six bids, a telephone bidder shouted out an offer of HK$50 million. The furious bidding continued for a tension-filled 10 minutes before the seal was sold to a room bidder for an astonishing hammer price of HK$85 million, with another HK$10.86 million for buyer’s premium.
The previous record was also achieved by Sotheby's HK, when a jade seal pulled in HK$46.25 million (US$5.9 million) in October 2007.