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‘Chicken Cup’ Sets China Auction Record With $36 Million

A 15th century porcelain cup sold to Chinese businessman Liu Yiqian for HK$281 million ($36 million) at Sotheby’s Hong Kong today, setting an auction record for a Chinese work of art.

A packed auction room erupted into applause today after the hammer went down on Liu’s phone bid made through Sotheby’s Asia Chief Executive Officer Kevin Ching.