Since the document concerns China's territorial sovereignty, the auction rejected bids from foreigners, as per legal requirements.
Peng Ling, a book vendor from Pingyao in the northern Shanxi province, originally bought the hand-written scripts at an antique market in Nanjing, capital of eastern Jiangsu province, in the autumn of 2005.
Peng said he rejected an offer made by a Japanese citizen to buy the scripts for 10 million yuan in December 2009.
"I'm a descendant of the Chinese nation. The Japanese can't take it away, even with 100 million yuan," he said. "The scripts must stay in China."
For more information on the East China Sea dispute, see the Menas Borders website, here.