05/03/2012 11:18 GMT | Updated 05/03/2012 11:19 GMT

Auction: Rembrandt's 'A Bust Of A Man In A Gorget And Cap'

A 17th century masterpiece by Rembrandt is expected to sell for up to £12 million when it is auctioned for the first time in almost 40 years this summer.

The painting, entitled A Bust Of A Man In A Gorget And Cap, will be offered alongside 14 other works by Dutch painters of the era, known as the Golden Age.

The work - just under 16in by 12in - will be offered at Christie's in London, which has previously sold some of the most valuable paintings by Rembrandt. In 2009 Portrait of a Man With Arms Akimbo fetched a record breaking £20.2 million.

The Pieter & Olga Dreesmann collection of Dutch old master paintings is expected to reach more than £19 million.

The collection will tour Doha, Moscow, New York, Hong Kong and Amsterdam before the auction on 3 July.

Richard Knight, international co-chairman of old masters and 19th century art at Christie's, said of the collection: "The sustained level of quality throughout and the provenance of the works are exceptional, with many having featured in key public exhibitions over recent years."