An auction of Old Masters paintings at Sotheby's last night proved that certain parts of the art market are holding their value. The sale total of £36m ($57m) sat comfortably within its estimate, as keen bidders set new records.

The sale of 104 lots achieved a sold-by-lot rate of 69%, and a sold by value rate of 82%. Bidders, who were predominantly European, snubbed almost a third of the lots but bid strongly on the most sought after pieces.