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COMMENT: As the saying goes, turnover is vanity, profit is sanity. Hold that thought as you consider the announcement that Bill Ruprecht is to stand down as CEO of Sotheby’s after nearly 15 years.

BILL Ruprecht is to stand down as chief executive, chairman and president of Sotheby’s as soon as they find a replacement.

This 17in (43cm) Fang bieri guardian palmwood figure from Gabon in West Africa set a house record at Netherhampton Salerooms in Salisbury when it sold for £88,000.

Sotheby’s Geneva managed to grab the headlines when the Henry Graves Supercomplication set a record for a timepiece at auction.

The boss of Cameo Fine Art Auctioneers near Reading lived the high life, fleecing customers to line his pockets, a jury has heard.

Christie’s latest evening sale of Contemporary art in New York posted a premium-inclusive total of $852.9m (£557.4m), a new record for any auction.

ATG editor Ivan Macquisten presents the ATG Award for the most outstanding work of art on view during ‘Asian Art in London’ to Jacqueline Simcox at the AAL Gala Party at the British Museum.