Former star gymnast turned sportswear entrepreneur and torch-bearer Li Ning put in an appearance at a watch auction yesterday, which raised millions of dollars for an education fund for the nation's athletes.
An Asian private buyer paid HK$9.6 million for a limited collection of 35 watches, each one the eighth numbered piece in Swiss watchmaker Omega's limited Olympics series, at Sotheby's autumn watch sale at the Convention and Exhibition Centre.
The proceeds of the auction are to be donated to the Chinese Athletes Educational Foundation, co-founded by Mr Li, who announced in August that he had become a resident of the city through the Quality Migrant Admission Scheme. He has yet to become a permanent resident.
Mr Li said he was pleased with the results of the sale.
'The funds raised from this remarkable auction can help the development of our projects and provide much needed joy to all of those affected,' he said, though he was not seen bidding for any items.
Mr Li was the final torch-bearer for the Olympics and was hoisted high into the air to light the cauldron at the 'Bird's Nest' National Stadium during the opening ceremony.
Overall, 160 out of 228 lots were sold yesterday, fetching more than HK$47.5 million, the highest total for a various-owner sale of watches held by Sotheby's Hong Kong.