Fine art at bargain prices in Bristol auction.

Persian rugs and Swiss watches were among the items up for sale at an auction in Bristol.

In a sign of the current economic times, many of the lots had come from liquidators dealing with companies who had gone out of business.

At the Holiday Inn, Filton, visitors to the auction were able to cast an eye over many of the items in the hour before the auction began.

Other lots included cases of wine, mountain bikes, mirrors and watches. Staff from Nationwide Auctioneers explained how Persian carpets, which sometimes took two master weavers up to three years to make, were worth several thousand pounds but had a reserve price of only a few hundred.

The several hundred punters were also told that paintings for sale by the Spanish artist Domingo and English artist Don Micklethwaite were perfect buys for collectors, as their value was sure to increase. When two paintings by Micklethwaite sold for £80, the auctioneer was almost speechless.

There was standing room only in the auction room at the hotel on Sunday, but those in the know said that attendance was down on what it could be in the winter months, and therefore good bargains could be snapped up.

Alan Barker, boss of Nationwide Auctions, said: "The time to buy at an auction is now in the summer when it's relatively quiet. This is quite a good attendance actually for a summer's day."

Among the most popular items at the auction was jewellery and handbags.

Anne Morris, 64, from Romney Avenue, Lockleaze, had her eye on one particular handbag and also on a television.

Mrs Morris said: "I have set myself a top price and I'm determined to stick to that."