Stamford auction house surprise as Ru ware fetches £320,000

The small bowl was found on a chest of drawers during a house clearance

A porcelain bowl thought to have been worth just £500 has sold at auction for £320,000 after it turned out to be a rare Chinese relic.

The 900-year-old bowl was owned by a Lincolnshire couple and was among items being sold after their deaths.

The 5in (13cm) tall item is thought to be previously undocumented Ru ware, prompting a flurry of bidders.

Jessica Wall, from Stamford Auction Rooms, said it was "totally unexpected".

The rare bowl sat on a chest of drawers at the home of the late couple, who were seemingly unaware of its true worth.

It was initially expected to fetch between £500 and £800 with Chinese ware being notoriously tricky to value, Ms Wall said.

Auctioneer Jessica Wall said it was a "dream" to be surprised by an item selling for so much money

"There was no indication it would fly in the way that it did," Ms Wall added, with the item finally fetching £320,000, before fees.

It is thought to have been made during China's Song Dynasty (960-1279 AD) with only a small number of similar pieces being in private hands.

The bowls are known for being undecorated with a bluish or greenish-grey glaze, with a fine network of cracks.

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Recounting the moment the hammer came down on the auction two weeks ago, Ms Wall said: "It was quite a moment.

"When it got to about £10,000, I thought it was interesting and a good result but that it would stop there. It kept going and I started to get butterflies."

The family of the deceased are said to be "blown away" by the sale, the auction house said.

The eventual buyer, who travelled from London to Stamford for the auction, has chosen to remain anonymous.

"It's extremely rare for such a big surprise like this, but it's every auctioneer's dream," Ms Wall added.

A similar piece sold at auction in 2017 for $38m.