01:00 GMT +321 October 2018
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    1977 Gold Ferrari, Kate Moss Bust, Napoleon's Throne: Gold Auction at Sotheby's

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    The Sotheby's auction house in London is holding an auction titled 'The Midas Touch,' which included items costing up to over a million dollars.

    "Taking collectors on a journey through the great civilizations of the world, The Midas Touch puts artists next to artisans, sculptures next to sacred objects, contemporary painting next to ancient jewelery, to present an unrivaled history of nature's most bewitching creation," Sotheby's description of the auction read.

    Alongside extravagant pieces of jewelery, is a Paul Mak artwork, estimated to fetch between $10,000 — $15,000 (£8,000 and £12,000).

    An Imperial carved giltwood ceremonial fauteuil, designed by Percier and Fontaine, made by Jacob-Desmalter in 1804, commissioned for Napoléon's Throne Room at the Palais de Tuileries is to be sold at the auction is expected to fetch up to nearly $400,000.

    Supermodel Kate Moss, who served as muse for British visual artist Marc Quinn, is also featured in the auction in the form of a 18-carat gold bust.

    "We have seen increasingly strong demand for gold items from our clients so this the first all gold auction being held by Sotheby's and every department is contributing so we are going to get a real variety of items. Gold has always been a universal symbol of status and has huge historic provenance but we have seen this renewed demand for gold items mainly due to new interest from markets such as Asia, Russia and the Middle East," senior director and head of sale Constantine Frangos said.

    A 1977 Ferrari 512 BB is to be auctioned off for $461,000-593,000 (£350,000 — 450,000). It has been fully restored in Modena by marque experts and had just three private owners from new.     

    The online bidding for Midas Touch items have opened and will last until October 19, while an auction will be held in London on October 17.

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