An ornate chest of drawers thought to be crafted by Thomas Chippendale has sold at auction for more than £3.7 million - setting a new world record.

The serpentine-shaped Harrington Commode, dating from approximately 1770, went under the hammer for £3,793,250 during a sale at Sotheby’s in London - more than three times its high estimate.

The final price exceeded the previous world record for a piece of English furniture sold at auction by more than £1 million, the auction house said.

That was held by a George II Parcel-Gilt Padouk Cabinet-on-Stand attributed to Chippendale which sold for £2,729,250 at Christie’s in June 2008.

Henry House, head of English furniture at Sotheby’s and the auctioneer for the sale, said: “This remarkable commode, which is outstandingly beautiful in both form and condition, was keenly contested by five bidders, the final price demonstrating true demand in the market for items of real quality, and I feel is justly deserved for an item that has been an honour to sell.” The George III commode was previously housed at Elvaston Castle, Derbyshire, and sold by order of the Trustees of the 10th Earl of Harrington’s Will Trust as part of a larger sale.