Auctioneers

SOTHEBY'S is to create a committee of non-executive directors, supported by independent lawyers, to hold a full internal review of the firm's code of conduct.

Sotheby’s chief executive Bill Ruprecht has also become chairman of the company with immediate effect following Michael I. Sovern’s decision to step down after 13 years.

Christie’s evening sale of Impressionist and Modern Art in London was led by Claude Monet's Iris Mauves as two telephone bidders battled it out over the £6m-9m estimate until the hammer fell at £9.6m.

Sotheby’s evening sale of Contemporary art in New York on November 13 achieved the highest total for any auction in the company’s history.