This huge Italian truffle just sold for $118,000

This two-pound truffle just sold for almost $118,000 in Italy

Location: Grinzane Cavour, Italy

The international Alba White Truffle fair attracts around 100,000 visitors each year

who gather in Piedmont to buy, sell and smell the expensive delicacy

The white tuber was bought by Michelin-starred chef Umberto Bombana

who runs the “Otto e Mezzo” restaurant in Hong Kong

after an auction held simultaneously in Hong Kong, Singapore, Dubai, and Moscow

The northwestern region of Piedmont is known as Italy’s white truffle producer

The prized mushrooms can only be found in forests near tree roots

two to eight inches under the ground

unlike black truffles, which can be cultivated on farms