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Most people are aware of the fact that truffles can be a little on the pricey side.

That being said, the fact that a 2-pound Italian truffle sold for almost $118,000 is still taking people by surprise.

Photo: Facebook/Castello di Grinzane Cavour

According to In-Cyrpus, the auction took place at the 21st world White Truffle auction in Alba, Italy. The man who bought the truffle is a chef, Umberto Bombana, who owns and operates a restaurant in Hong Kong.

Bids were accepted simultaneously from various regions, including Dubai, Moscow, Singapore, and Hong Kong.

Photo: flickr/Kent Wang

What probably will not be a surprise is that people sometimes refer to white truffles as white gold.

We may spend a lot on ingredients for food but due to the rarity of white truffles, they are one of the most expensive ingredients on the planet.

Photo: flickr/Kent Wang

Black truffles are relatively easy to cultivate but that is not the case with white truffles. They grow underground spontaneously and often, dogs that are specifically trained to sniff out the fungi are used to find them.

See highlights of the auction in the video below:

https://www.facebook.com/CastelloGrinzaneCavour/videos/442725537479272