The item was bought at a garage sale in New York City

Mar 20, 2013 10:17 GMT  ·  By

A bowl bought for $3 (€2.3) has turned out to be a 1,000-year-old Chinese extremely collectible item, selling at auction for $2.22 (€1.7) million in New York City.

Auctioneers at Sotheby's expected to get $300,000 (€232,000) for the bowl, but buyers became engaged in a bidding war and its value skyrocketed.

According to the NY Daily News, London art dealer Giuseppe Eskenazi has acquired the antiquity. The precious item is white, 5-inch (12.7-cm) wide and dates back to the Northern Song Dynasty.

The name of the seller has not been disclosed, but we do know that they are from New York. The bowl was purchased at a 2007 garage sale, but it has only recently been appraised, turning out to be worth millions.

If you have ever bought something valuable at a tag sale, don't hesitate to comment about it.