An 18th-century imperial porcelain bowl that had remained in private hands sold for HK$198 million (about US$25.4 million) at a Sotheby’s sale of Chinese works of art in Hong Kong over the weekend.

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I saw a beautiful antique Chinese porcelain bowl at an auction. It was blue and white with painted dragons, and it had an unusual shape — rounded with a flared rim. The description called it a “zhadou ...