Charles Saatchi is offloading works from his contemporary Chinese art collection.

It did not take advertising mogul Charles Saatchi long to start offloading works from his contemporary Chinese art collection after his exhibition, The Revolution Continues: New Art from China, closed this January.

Last month, four works were included in a sale at Phillips de Pury & Co in New York. While three sold, one by Yue Minjun, he of the perpetually grinning faces, was not. Unperturbed, Saatchi is offering another Yue Minjun painting at Phillips in London on June 29, depicting more grinning faces and a flock of migrating geese.

Saatchi bought the painting at auction four years ago for £245,000, nearly four times the estimate, and is now looking just to get his money back with an estimate of £250,000-£300,000.

Works by Andy Warhol from the collection of German industrialist, Josef Froehlich, best-known in the UK for the exhibitions from the Froehlich Foundation shown at the Tate gallery, lead Sotheby’s contemporary art sale on June 25.

A rare example from his unappetising sounding “Tunafish Disaster” series in the early Sixties, Mrs McCarthy and Mrs Brown depicts press images of two unfortunate ladies who hit the headlines after they died from tuna-fish poisoning.

Froehlich bought the painting in 1995 for £290,000 and it is now estimated at £3.5 million-£4.5 million. Prices for Warhol have generally sagged in the past six months sometimes by between 30 and 50 per cent, but Sotheby’s is hoping the Froehlich works will hold up. A large painting of a hammer and sickle carries much the same estimate (£2 million-£3 million) as similar works from this series that were sold 18 months ago.

Two years ago, US investment banker Glenn Fuhrman, who owns the Flag Art Foundation in New York, hit the jackpot when Lullaby Spring (2002), a huge, shimmering steel medicine cabinet by Damien Hirst, which he acquired for about £1 million, sold for a record £9.6 million at Sotheby’s to a member of the ruling Al Thani family in Qatar.

Now Fuhrman is offering Night Playground, a magnificent large painting by Peter Doig, for

£1.5 million-£2 million. The painting will be sold at Christie’s on June 30 under the direction of Francis Outred, who left Sotheby’s last year and brings years of experience with him.

Outred has adopted a cautious approach in some respects. A 1966 Warhol self-portrait that was unsold in 2008 with a £1.4 million estimate is back estimated at £500,000, and a Richard Prince nurse painting – from a series examples of which have sold for more than £4 million – is on offer for £1.5 million.

But he also shows he is willing to back a hunch. A rotating sculpture made of plastic cutlery (pictured) by the Portuguese artist Joana Vasconcelos is the first work by her ever offered at auction.

Having been impressed by a similar example in the François Pinault collection exhibition at Dasha Zhukova’s Garage space in Moscow, Outred tracked down this larger version in a Portuguese restaurant and has estimated it at £80,000-£120,000.