One of the world's leading auctioneers gave a presentation on the art market this week.

Hugh Hildesley, executive vice-president of client development at Sotheby's spoke to guests of sponsors Rego Sotheby's International Realty and HSBC Premier at theFairmont Hamilton Princess on Tuesday.

The presentation was followed by a cocktail party on The Venetian around Hamilton harbour.

Mr. Hildesley focused on the correlation of quality and value.

He said the art and real estate markets coincided. "Collectors of fine art are naturally inclined to acquire 'nice boxes' to put their collections in," Mr. Hildesley said.

With more than 40 years of fine art expertise at Sotheby's, Mr. Hildesley demonstrated the powerful effect that quality has on price in illustrating his talk with masterpieces from 3000 BC through 2006, from a Proto-Elamite sandstone carving of a lioness to a massive hanging magenta heart by Jeff Koons, which weighs more than a Mercedes sedan.

As senior auctioneer, he conducted some of Sotheby's most prestigious sales including the Jacqueline Kennedy Onassis sale and the sale of the property of the Duke and Duchess of Windsor. In 2007, Mr. Hildesley conducted 62 benefit auctions, raising over $17 Million for charitable purposes.

"We are very grateful to Hugh for bringing his expertise to Bermuda," said Buddy Rego, president and owner of Rego Sotheby's International Realty.

"Full service real estate is not only helping clients have an exceptional home buying or selling experience; it's also about supporting them with high quality financial service providers like HSBC Premier and offering them more personal access to the world's beautiful creations for inside their homes through our unique relationship with Sotheby' Auction House."

Greg Fletcher, senior manager, wealth management, at HSBC Premier added: "Interest in alternative investments has become more prevalent in the recent economic crisis, and we are excited to host Hugh Hildesley from Sotheby's Auction House, New York."