A violin made by renowned Italian craftsman Antonio Stradivari is headed for auction next month, where it is expected to fetch a record $18 million (£15 million).

The New England Conservatory (NEC) in Boston, Massachusetts, is offering the Joachim-Ma Stradivarius violin for sale, with proceeds going towards student scholarships in fulfilment of the wishes of musician and NEC graduate Si-Hon Ma, who donated the instrument to the school.

The Sotheby’s auction will take place on Feb 7 in New York as part of its Masters Week.

“Strad’ is... like a household name for the violin... like the Picasso of the violin world,” Helena Newman, the chairman of Sotheby’s Europe, told Reuters news agency in London, where the violin went on public display on Friday.

“We are estimating the violin in the region of $12-$18 million, which sits comfortably within the record price already achieved for a Strad.”