£125m worth of masterpieces go on show

The most expensive post-war painting to come to auction is among £125 million worth of art going on show in London today.

The other 44 works include the most important watercolour by Impressionist Paul Cezanne and a Francis Bacon that has never been sold on the open market.

They are being exhibited at Sotheby's in New Bond Street prior to auction in New York next month as a result of the growing importance of London as a catchment area for new buyers in the City, Asia and Russia.

Highlights include White Center (Yellow, Pink And Lavender On Rose), a masterpiece by Mark Rothko that has been owned by philanthropist and banker David Rockefeller for nearly half a century.

Tobias Meyer, head of contemporary art at Sotheby's, said it was "one of the artistic monuments of the 20th century".

The painting was bought for $10,000 in 1960 but is now expected to make $40 million (£20million), which would be a record for post-war art.

"Every great artist has one painting with which he is most closely associated and, for Rothko, this is the one," said Mr Meyer.

"It is one of the most important Rothkos still in private hands and without question is in the pantheon of Abstract Expressionist masterpieces."

Other important works are Cezannes being sold by Giuseppe Eskenazi, one of the most important collectors of Chinese art.

Of four watercolours he is selling, the most important is Nature Morte Au Melon Vert, which dates from 1902 to 1906 and is expected to make up to $18 million (£9 million).