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In July ATG revealed that Hotspur and Jeremy, two of the very top names in English 18th and 19th century furniture dealing, were to cease trading.

The news that two of the oldest and most highly respected of English furniture specialists, both family firms, were simultaneously closing their Belgravia shops came as a shock to the top end of the trade.

However, both parties emphasised that the decision had nothing to do with the state of business.

Under the title Dealing in Excellence: A Celebration of Hotspur and Jeremy, the auction will comprise 200 lots of mainly classic English antiques but with some Oriental lacquer and japanned pieces.

The highlight of the auction is expected to be The Cusworth Suite, a fine set of eight c.1755-65 mahogany chairs with their original needlework covers, which conform to the designs made popular in Chippendale's Director. They are estimated at £500,000-800,000.

Estimates range from £2000 to £500,000 and the day is expected to realise £4m.