Has the Turner Prize winning artist Grayson Perry Created the first nude painting, showing a topless Kate Middleton? It was reported in the highly respected Guardian online today, that the Duchess of Cambridge is one of the subjects portrayed in a new work of art, to be included in a Sotheby's auction fund raiser, in early October. The newspaper described the painting as containing a depiction likely to be the Duchess; "Recent events suggest that the topless figure (23) may be the Duchess of Cambridge, although she won't be pleased that Perry has so comprehensively shunned the royal hairdresser".

The coloured drawing was created for a ceramic work called "Bad Portraits Of Establishment Figures" and while he has numbered each of the figures, he has not provided a key to let you know who they are.This has opened up the identities to wild speculation. The piece has been donated for an exhibition called RA Now. It is on exhibition from October 11 to November 11, to raise money for the Royal Academy’s redevelopment fund.

Looking carefully at the figure reported to be Kate Middleton, an official patron of the National Portrait Gallery, I think the Guardian has got it wrong and it is far more likely to be a portrait of the British Artist Tracey Emin. Others are possible Paula Rego, Peter Blake, David Hockney , Gilbert (of Gilbert & George) Damien Hirst, Christopher Le Brun, Antony Gormley and Grayson Perry himself.

This autumn, the Royal Academy presents RA Now, a once-in-a-lifetime exhibition which will see the work of current Royal Academicians including Tracey Emin, Antony Gormley and Grayson Perry, exhibited alongside work by Honorary Royal Academicians Frank Gehry, Cindy Sherman and Anselm Kiefer among others. Showcasing the rich diversity of the current membership, RA Now offers a revealing snapshot of the Royal Academy today. All of the works featured have been generously donated by the artists and a number will go on sale at an auction to be held on 9 October. The remainder of the works, in a wide range of styles and prices, will be available to purchase by visitors for the duration of the exhibition.

Funds raised by RA Now will contribute directly to the Burlington Project, which will see the Royal Academy double in size in five years time, representing the Academy’s most significant expansion for over a century.