The artwork, which belonged to the vendor's late father, was discovered during a routine valuation of their parent's home.
Their dad had purchased it in Nanking, China, in 1986 when he was working there.
And when he returned to the UK, he hung the porcelain piece, which features a man in a house amongst a snowy Chinese landscape, on his wall in Chobham, Surrey.
Auctioneers believed the piece would fetch around £100 to £200, as it was dated from the 20th century.
But the painting sparked a bidding war when it was revealed the artist was He Xuren, whose work is now in high demand and often goes for large amounts.
The winning bid was £58,000, which came from someone from Nanchang, China. And after fees, this equates to 700 times more than the estimated cost!
Andrew Ewbank, from Ewbank Auctions, was quoted in the Daily Express discussing the painting, saying: "It is quite unremarkable but we didn't pick up on the fact that it was painted by He Xuren.
"The vendor was delighted with the result."
We're not surprised!
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