Backbench legislation scrapping the "buyer's premium" charged in UK auction houses has been introduced in the Commons.

The move follows this year's record price fetched by Sotheby's for a Claude Monet water-lily painting.

The £13 million sale netted the auction house a cool £1.3 million in buyer's commission.

But Labour's Frank Doran believes it is time to scrap the premium - which is unpopular with British buyers and dealers.

"Despite various attempts at legal action, referral to Europe and, in the early days, attempted boycotts, the premium remains," he said.

"It creates a conflict of interest between the auctioneer and the client/seller. It distorts prices and provides grossly inflated returns to auctioneers."

The Aberdeen Central MP is using his 10-minute rule bill "to draw attention to the lack of regulation of auction houses in the UK".

"My bill would do two things," he said. "Firstly, it would establish the legal principle that the auctioneer is the agent of the seller.

"Secondly, it would outlaw the buyers' premium. It would allow charges where services are provided, but the imposition of a straight commission on buyers would be unlawful."

Sotheby's, which charges buyers a 19.5 per cent premium on the first £70,000 and 10 per cent thereafter, has rejected the MP's call.

A spokesman argued that auctioneers "have to recoup the costs of business" both from the seller and the buyer.

The charge was levied "as a guarantee of authenticity and for the research that goes into the catalogue," she told this website.

Whilst Doran's bill has no chance of becoming law, the MP hopes that the government will consider similar legislation at a future time.