Tipu Sultan's sword sells for more than $17 million

Bedchamber sword of Tipu Sultan, an 18th century Muslim king of India known for his leadership and barvery, was sold at an auction in London for £14 million ($17.4 million).

According to a statement from auction house Bonhams, the sword sold at the auction on Tuesday at a price seven times higher than its estimated purchase cost, broke the previous record of an Indian and Islamic piece.

Nima Sagharchi, group head of Islamic and Indian art at Bonhams, said in the statement that the sword "has an extraordinary history, an astonishing provenance, and unrivalled craftsmanship."

"It was expected that it would be so fiercely disputed between two phone bidders and a bidder present. We are thrilled with the outcome," he continued.

Tipu Sultan controlled the kingdom of Mysore in southern India from 1782 and 1799, receiving the nickname "Tiger of Mysore" for the ferocity with which he upheld his domain.

He invented the use of rocket artillery in battle and made Mysore the most vibrant city in India.

On May 4, 1799, British troops attacked Seringapatam (now Srirangapatna), the capital of Tipu's kingdom and killed him.