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An ancient potted banyan tree changed hands for a record price of 288,000 yuan (US$37,000) in Zhanjiang, a port city in western part of Guangdong Province, on Sunday.

It is, so far, the most expensive potted banyan tree that has ever been sold in the city.

The buyer is a business person from Shenzhen.

The potted banyan tree, which used to be owned by a garden company in Zhanjiang's Mazhang District, is said to have been more than 100 years old. It is more than 1 metre tall and 50 centimetres in diameter.