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Chinese cup sets new auction record

A rare Ming Dynasty cup which is more than 500 years old has fetched 36 million US dollars (£21.7 million) at an auction in Hong Kong, smashing the previous world record price for Chinese porcelain.

Sotheby's said the winning bidder was a mainland Chinese collector.

The cup, which measures just 3.1in (8cm) in diameter, is known as a "chicken cup" because it is decorated with a rooster, a hen and their chicks.

It was made during the reign of the Ming Dynasty's Chenghua Emperor, who ruled from 1465 to 1487.

Sotheby's said the previous record for Chinese porcelain was set in 2010 when a Qianlong vase sold for 32.4 million US dollars (£19.5 million),

It is the latest of several records set at the auction house's spring sales in Hong Kong.

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