Extremely rare teapot from 18th century China sells for £2.6 MILLION

A rare Chinese teapot from the 18th century has been sold for £2.6 MILLION - ten times its expected price.

More than ten people battled it out for the extremely rare 250-year-old piece of china from the Qianlong dynasty, which is one of just two known to exist.

The work of art was an ode to Emperor Qianlong's love of tea and features a figure, possibly the Emperor, being served the drink while admiring an open handscroll

It was sold in New York by Sotheby's, with the auction house giving it a guide price of around $300,000 (£225,000).

Bidding started at $250,000 and quickly passed $1 million as a number of people in the room and on the phone continued to fight it out for the teapot.

The intricately detailed teapot was eventually sold to an Asian buyer for $3,490,000 ( £2.6 million) with the saleroom applauding the huge result.

Angela McAteer, Head of Sotheby's Chinese Works of Art Department, said: "The contest amongst more than ten bidders that pushed a 250 year-old teapot to $3.5 million reminded us of auction's unique magic.

"The piece, having been enjoyed by an American collector for decades, was just one of a number of works that soared over pre-sale expectations after drawing bidding from determined collectors.

"As we saw throughout our two days of sales, the Chinese Art market remains robust, with major collectors deeply engaged in owning the finest examples of the country's artist heritage."