TWO collectors at an auction entered a bidding war for a vase with a price tag of $10,000 - which saw one of them eventually pay a record-breaking $7.66 million. The pair of buyers slugged it out for the rare porcelain 'dragon jar which was being sold at Bonhams in San Francisco on Tuesday. But neither was prepared to back down and they kept trying to out do each other - with one of them eventually entering the winning bid of $7,658,000. Speaking after the incredible sale - with the vase fetching 800 times its guide price - stunned auctioneers said it had been the most dramatic day in the auction house for 30 years. The blue and white porcelain jar, which is over 200 years old, measures just 14 inches and is decorated with bands of plantain leaves, waves and clouds. It has been dated to the Qianlong Mark, Late Qing/Republic Period from 1736-1795 and is painted with six five-clawed dragons. Dessa Goddard, Bonhams vice president and director of Asian works of art, said two Chinese buyers had fought the bidding war to get their hands on a piece of their countrys history. She said: I have been doing this for thirty years and I have never seen anything like it. Once the price got to a certain level the two bidders went off on their own. 'They were both Chinese and the price they ended up paying is incredible, quite extraordinary. They were obviously desperate to buy the dragon jar and wanted it very badly. 'In the last few years with the Chinese entering the global economy there has been a huge rise in the prices reached for this kind of item, particularly anything Imperial. This jar has gone for a quite fantastic sum. We are elated that the jar achieved such a spectacular price. Its sale provided a fantastic slice of auction drama that our clients and staff will remember for many years to come. A spokesman for Bonhams in San Fransisco said it was the most successful sale for a piece of Asian art in their history. FT