The small object, believed to be used as a brush washer, was crafted during the Imperial era of China.
The short life of the dynasty who commissioned it, the Song, made this 13cm diameter dish “virtually unobtainable”.
The bidding at the prestigious Hong Kong auction house Sothesby’s started from a guide price of £10 million.
After a fierce 20-minute battle it was sold to an anonymous bidder for £28 million (HK$294.3million).
This price set a new world record for a Chinese ceramics piece, beating the already staggering figure of £27 million (HK$281.24 million) paid in April 2014 for a Meiyintang Chenghua ‘Chicken Cup’.
A spokesperson from Sothesby’s said: “While seemingly small and unobtrusive.
“These understated aesthetics reflect the calibre and meticulousness of its craftsmanship, a quiet metaphor of Chinese philosophy celebrated by erudite connoisseurs and scholars throughout time.”
The dish is believed to have been made between 1086 and 1106 by Ru guanyao, one of the preferred kilns used during this period.
It has a blue-green glaze and ‘ice crackle’ pattern.
The anonymous millionaire brought home one of the 87 pieces produced during the Song dynasty thought to still be around.
Only six have been sold publicly since 1940.
According to Nicolas Chow, Chinese ceramics expert, these small creations are a hugely important part of China’s culture.
He said they are “the epitome of the Chinese potters’ craft”.
Sothesby’s is not new to selling brush washers for such a high price.
The last one was bought after another heated battle for £16.8 million in 2012.