Chinese porcelain auction hits record high

The auction held in China's porcelain capital of Jingdezhen city, Jiangxi province saw a record high of transaction value on Sunday, auction company said.

Total transaction value including commission reached nearly 62 million yuan (10 million US dollars), six times as much as the amount last year, said Jiang Weimin, president of Jingdezhen Huayi Auction Co, Ltd.

More than 100 pieces of art porcelain, which were mainly created in the 1950s, 60s and 70s, were bidden successfully at the five-hour-long auction, Jiang said.

The auction is part of the 2013 China Jingdezhen International Ceramic Fair scheduled for Oct 18-22.