Mr Tsao, who bought the brush pot for HK$67.5 million at last year's autumn sale in Hong Kong, said half of the proceeds (HK$32.5 million) would go to victims of the Sichuan quake.

The rest would go to Straitpeace Law Foundation for fostering relations between the mainland and Taiwan and the Cloud Gate Dance Theatre, the world-renowned contemporary dance group founded by choreographer Lin Hwai-min.

The theatre's rehearsal studio, equipment and production archive in Taipei county was destroyed by a fire this year.

Mr Tsao said he was delighted the brush pot had been sold to a Taiwanese collector and denied the price had been below expectations.

'I hoped to raise around 30 million yuan (HK$33.7 million) for the earthquake victims so I have achieved my goal,' he said, adding that he hoped the auction could raise awareness of the quake victims' plight.

He said people in Taiwan had experienced strong earthquakes and understood the victims would need 'enormous support'.

Meanwhile, an Olympic torch donated by Hong Kong squash player Christina Mak Pui-hin fetched HK$1.8 million at a charity auction organised by Commercial Radio.

The auction, which closed at 8pm yesterday, also sold other items including the track suit and sports shoes the Asian Games medallist wore on May 2 during the torch relay in Hong Kong.

The track suit fetched HK$13,000 while a headband went for HK$6,000 and the sports shoes for HK$7,000. Proceeds will go to the Caring for Children Foundation to help make artificial limbs for children injured during the earthquake.

Mak said she had estimated the torch would be sold for only a six-digit figure and she was pleased with the results.

Asked if she would miss the torch, she said: 'The most important [thing] is to help those children to live a better life and smile again. Their smiles are much more important.'