Masterpiece auction set for Chelsea Barracks site

Those with a passion for antique paintings might be intrigued by news of a high-profile auction set to take place this year.

Four well known London dealers are behind an event calledMasterpiece, which will be held in June at the site of the old Chelsea Barracks.

According to a piece by Matthew Goodman in the Times, it wil lseek to give a big boost to the antiques sector and provide a fitting alternative to the Grosvenor House fair. Five partners - including the likes of As prey and Stabilo - willinvest £100,000 to help make the showpiece a success. Antique paintings will be up for sale, as well as unique items such as a £3 million 1932 Bugatti roadster.

The catering division of the restaurant group responsible for the Ivy will be serving food, which arguably highlights the glamorous appeal of the spectacle. In other news, those with an interest in antique silver might have noticed that a series of military treasures was sold at are cent auction in the Cotswolds.