Two night pearls sold for 3.8 million yuan (US$457,831) each at a charity auction for the handicapped and students in Guangzhou last Saturday, media reported.
The auction, at the Chinese Export Commodities Fair (Canton Fair) Complex, fetched more than 9.7 million yuan (US$1.17 million) with the sale of 70 percent of some 276 paintings and calligraphy works by Chinese masters.
The opening price for the bigger of the night pearls was 1.5 million yuan (US$180,723) and this increased in bids of 100,000 yuan (US$12,048).
After 20 rounds of bidding see-sawed between two bidders, it finally went to one who turned out to be a Canadian collector bidding by telephone.
The auctioneer caused a stir when announcing the 380,000 yuan (US$45,783) opening price for the smaller night pearl. But he created a greater stir when he corrected the figure to 3.8 million yuan (US$457,831).
The successful bidder bought the 41.2-kilogram pearl without any competition.
The sponsor said later that the price for a night pearl could not be judged according to the size only.
The smaller of the two, named "Daimei" (Black Beauty), was among the best of night pearls, the sponsor said.
Black and purplish red ones were the most rare, giving off fluorescent light within just two minutes of darkness. With brightness and temperature gradually enhanced, the pearl will be entirely fluorescent, like a bright moon.
(Southcn.com January 23, 2003)
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