Stradivarius violin sold for $16 million

A Japanese music foundation has sold a renowned Stradivarius violin for $16 million at a London auction to raise money for tsunami disaster relief.

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The nonprofit Nippon Foundation said Tuesday the proceeds from selling the nearly 300-year-old violin known as the Lady Blunt will go to relief projects in northern Japan.

The group's music affiliate owned the violin made in 1721 and hardly used. The new owner was not identified.

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Foundation spokesman Hideo Fukuda said the group plans to use the proceeds to support and promote traditional arts in the region.

The March 11 earthquake and tsunami left more than 23,000 people dead or missing in northeastern Japan and destroyed hundreds of homes, offices and factories.