May 27 (Bloomberg) -- Taiwanese computer-chip tycoon Robert Tsao sold an imperial Qing Dynasty glass pot for HK$65 million ($8.3 million) at an auction in Hong Kong today, raising funds for victims of China's deadly May 12 earthquake.

The palm-sized antique, used to hold paint brushes for Chinese calligraphy, went for the reserve price, according to Tsao. Christie's International had estimated before the sale that the item, decorated with European-style mother-and-child images, might fetch HK$85 million. Tsao bought it in November for HK$67.5 million, a record for a Chinese glasswork. An Asian collector bought the item over the phone, said Christie's.

The pot is part of Christie's sale of Chinese ceramics, imperial clocks and other collectibles. Nearly 500 people --about 100 standing -- packed the salesroom at Hong Kong Convention Center, among them about 30 were active bidders. Rapid-fire offers came for the Nezu Museum Qing Dynasty clocks, pushing some lots to more than 10 times their presale estimate. Activity cooled when ceramics and other items came on the block.

``People are increasingly going for the best; mediocre just won't do,'' said Qu Liqun, a Shanghai-based dealer who flew in to attend the auction. ``It's very obvious people were focused on the museum-quality pieces and items with detailed history of their previous owners and literary citations.''

Today's sale totaled HK$828.9 million; of the 368 lots offered, 222 were sold, according to Christie's.

``Truly Rare''

``The clocks did very well because they are truly rare, otherwise there just wasn't enough enthusiasm,'' said Hong Kong collector Robert Chang, in an interview. ``Some important Chinese buyers probably stayed away because of the Sichuan earthquake.''

A flurry of paddles and raised hands from Christie's staff on the phone with clients came for Lot 1509, a three-tiered imperial musical clock topped with a floral bouquet, which sold for more than 10 times its presale estimate of HK$3.5 million. With a plummy, leveled British accent, auctioneer Hugh Edmeades coaxed additional HK$1 million bids from the audience.

A black-clad man in the front row, sipping on bottled wheat tea and whispering incessantly with a Taiwanese accent into a Motorola fold-out phone, competed fiercely for about half the lots, winning nearly all. He declined to be interviewed. The auction of 15 clocks raised HK$281 million.

``People were really coming out of the woodworks for this collection -- a singular opportunity to get museum pieces,'' said Kate Malin, a Christie's Hong Kong spokeswoman.

Bidding on the Tsao piece started at HK$40 million and was over in less than two minutes. Tsao, dressed in a blue linen blazer, white shirt and black laced loafers, looked on in the audience.

Waived Commission

Asked before the sale if he thought the pot would sell, he said, ``I know it will; it's a question of how much.''

Tsao pledged half the proceeds of the sale to help relief efforts for the quake, which killed at least 65,000 people, with the rest of the money going to other charities, Christie's said. The auction house said it waived its commission for the pot.

Tsao, 61, was chairman of United Microelectronics Corp. until January 2006 when he quit after being charged by Taiwanese prosecutors under President Chen Shui-bian's administration. He was acquitted in October of breach of trust for providing technology and other assistance to a Chinese chipmaker without proper documentation. He's now chairman emeritus of UMC, the world's second-biggest wafer foundry.

Emperor Qianlong

Interest waned after Tsao's item was sold. Auctioneer Andrea Fiuczynski, animated and striking in a lustrous orange outfit, tried with limited success to get a passive audience to bid more. By mid-day, at least a fifth of the items, including ceramics, lacquers, and imperial portraits were withdrawn. Still, lots of good provenance did well, including a blue-and-white hexagonal vase (Lot 1582) bearing Emperor Qianlong's mark that sold for HK$29 million, not including commission.

Today's sale is the fourth day of Christie's six-day spring auction of 2,400 gems, paintings and collectibles that the company estimates will fetch HK$1.7 billion. The auction house will offer gems, including a 101-carat diamond tomorrow.

Christie's charges a buyer's premium of 25 percent for the first HK$150,000, 20 percent of the amount from HK$150,000 up to HK$4 million, and 12 percent of the sum above that.

To contact the reporters for this story: Le-Min Lim in Hong Kong at lmlim@bloomberg.net

Last Updated: May 27, 2008 09:00 EDT