Sotheby's

A historic diamond will appear on the market for the first time in history this spring, having remained in the same family for over three centuries.

Sotheby’s has chosen Dubai to unveil a Rubens painting it plans to offer later this summer in a bid to tap into the hoped-for demand for Old Master paintings in the Middle East.

Jeffrey Archer’s collection of political cartoons raised a total of £571,318 (including premium) at Sotheby’s as 240 original artworks went under the hammer this week.

Sotheby’s has promoted Nicolas Chow to chairman of Sotheby’s Asia. He has risen through the ranks of the company as the Chinese art market has grown rapidly since he joined Sotheby’s in 1999.

Peter Doig (b.1959) prices have been on a roll with three works sold for over £15m at auction in the last 10 months. However, the latest major painting to emerge failed to attract any notable bidding in the saleroom at Sotheby’s and was knocked down under estimate.

A rare Kangxi bowl coming onto the market for the first time in 30 years could test the auction record for Chinese ceramics.

Sotheby’s reported a 12% jump in sales last year to $5.5bn (£4bn). The US-listed auction house said profit, or adjusted net income, improved by 22% from $99.6m to $121.7m in 2017, boosted by an increase in commission and fees.

Works by Pablo Picasso (1881-1973) dominated the latest series of Impressionist and Modern art auctions in London with the evening sales at Sotheby’s and Christie’s both led by works by the Spanish artist.

Sotheby’s second annual sale of erotic art last week totalled £3.7m, falling somewhat short of expectations and last year’s results.

Sotheby’s has bought Viyet, a website for interior design, vintage and antique furniture.