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“Some people might say there are too many fairs. In fact, there are too many galleries and we are providing part of the solution.”

Robert Sandelson who has launched a new fair to coincide with Masterpiece this summer.

“James Adam’s portrait is a work of great swagger and refinement that demonstrates the confidence of the Scottish Adam family as seminal taste makers for 18th-century Europe.”

Christopher Baker, director of European and Scottish art and portraiture for the National Galleries of Scotland following its purchase of the portrait by Antonio Zucchi with the Victoria and Albert Museum.

“Vigorously and freely painted, with an emphasis on colour and light, rather than structure and form, he is exploring the possibilities of his medium and painting for himself, not for public consumption.”

Julian Gascoigne, Sotheby’s Old Master paintings specialist on a late painting of a Surrey landscape by JMW Turner. It was once owned by the banker JP Morgan and is now offered with an estimate of £4m-5m.

“It’s considered a highly important piece, not only by Coca-Cola collectors but also advanced bottle collectors.”

Morphy Auctions’ president Dan Morphy after the firm sold a 1915 Coca-Cola bottle prototype of $3m.

“By making the TEFAF New York fairs important cultural events as well as commercial ones, and by creating robust programming and an engaged advisory board of museum directors and leading collectors across the US, we were pleased at how quickly we were able to adapt the TEFAF brand to American sensibilities.”

Michael Plummer, Artvest principal. TEFAF took full control of its New York fair after buying out a 49% stake from the advisory firm.

“We chose it to illustrate the back cover of the sale catalogue and we knew it would sell well, but I was surprised it fetched so much. The family who had inherited it were delighted with the outcome.”

Cliona Kilroy of Canterbury Auction Galleries which sold a cloisonné enamel vase by Namikawa Yasuyuki for £29,000.