'Picasso' limited edition on sale

Thus claims specialist Scottish auction house CPS Auctions which says it has over 80 original paintings and rare limited editions from a range of acclaimed artists including the founder of the Cubist movement and one of the finest painters of the 20th century.

The auctioneer also claims to have lots including the work of English Romantic painter JMW Turner and pop art icon Andy Warhol.

Amazingly all of the art featured in the "emergency liquidation sale" is being offered from just 40 including "elegant frames and valuations."

In a notice alerting the Londonderry public to the giveaway auction CPS says it has a range of art works including oils on canvas, watercolours and pastels.

The lots apparently include rare limited editions by Picasso, Tony Rome, Montague Dawson, Turner, Joel Kirk, Spencer Hodge, Allan Nelson, Marsha Hammel, Andy Warhol and others.

CPS claims it is has been asked to auction off the cut price classics "due to the critical state of the current UK Financial situation."

The auction house says it has been given instructions by its clients to immediately liquidate the art in order to avoid bankrupty proceedings from HM Revenue and customs.

Also going under the hammer on Saturday is a range of vintage celebrity memorabilia from some of the biggest names of the silver screen, music and sport.

CPS says it has property, documents and autographed presentations from figures as iverse as Napoleon Bonaparte and George Best.

One hundred and fifty lots include signed items from Frank Sinatra, Michael Jackson, Elvis Presley, the Apollo 11 Crew, Kirk Douglas, Dennis Law, Pele, Jake La Motta, Mike Tyson, Muhammed Ali, Doris Day, Sean Connery, Michael Caine, Tommy Cooper, Spike Milligan, Morecambe and Wise, The Goons, Laurel and Hardy, Paul McCartney, Gene Kelly, James Cagney, Paul Newman, Bob Hope, Fred Astaire, Ginger Rodgers, George Best, Paul Gascoigne, Roger Moore, Diana Dors, Grace Kelly, Floyd Paterson, Alex Higgins, The Rolling Stones, Agatha Christie, Enid Blyton, Barbara Windsor, Mae West, Johnny Cash, Orson Welles, Oscar Wilde, Harrison Ford. Tom Jones, Enzo Ferrari, Joe Calzaghe, Katherine Hepburn, Ayrton Senna, Humphrey Bogart, Napoleon Bonaparte, Alfred Hitchcock, Buster Keaton, James Hunt, Graham Hill, Lewis Hamilton, Charlie Chaplin, Sugar Ray Leonard, David Beckham, Henry Cooper, Oliver Reed, Janet Leigh, Mickey Rooney.

All items are fully authenticated says the auctioneer. And if that weren't enough to ticke the interest 120 lots of high grade solitaire diamonds, colour stones, sapphire, emerald, ruby, amethyst and tanzanite rings, bracelets, pendants earrings are also up for grabs from only 50. The firm claims that a pair of 1st Solitaire Diamond Earrings valued at 2,000 will be offered at 50

Equally, 100 brand new Plasma LCD TVs will be offered from 100 regardless of size and 100 laptops with full warranty will be offered from 50 regardless of specifications.

A range of furniture and Persian rugs, iPhones, Blackberries, Ladies and Gents perfumes from brands Prada, Boss, Armani, Bvlgari will also be auctioned off in the emergency clearance.

CPS asks punters to be aware that all stated prices are minimum reserves. Due to the short notice of the sale, no catalogue will be available. The sale starts at 12noon with viewing from one hour before.