Thousands of enthusiasts, including several celebrities, have flocked to the venue to admire – and sometimes purchase – an array of rare sculptures, porcelain, classic cars, paintings, fine jewels and silverware.
Amongst the stand-out items on display at this year’s event are a 1952 Jaguar C-Type racing sports car once owned and raced by American driver Masten Gregory, and an aquamarine and ruby belt with buckle necklace, designed by Fulco, Duke of Verdura, for jeweler Paul Flato, New York, circa 1935, priced at $2.5 million.
Meanwhile the world-renowned Gagosian Gallery used the high-profile fair to unveil a gold plated silver statue by celebrated British artist Damien Hirst, called "Saint Bartholomew, Exquisite Pain 2008."
Furthermore, visitors are also enjoying the opportunity to view a 1959 Salford Street scene by British painter L.S. Lowry with a price of $766,918, as well as works by Francis Bacon and Picasso.
The Masterpiece London 2012 runs until Wednesday 4 July.