Asprey, the 200-year-old London luxury goods firm, is dropping its clothing and footwear lines to concentrate on core businesses like jewelry, silver and leathergoods. WWD reports the move is part of an initiative by the company's new President and CEO Robert Procop to shore up the historic brand. As we reported previously, Asprey changed direction in 1996 when the company was sold to Prince Jefri of Brunei. Its gunrooms were shuttered and additional clothing and accessory lines launched in an attempt to make the firm more fashionable. Gorgeous actress Keira Knightley (above, in Asprey designs) was subsequently hired on as spokesmodel.

Two of the very last shotguns ever produced by 200-year-old London luxury goods firm Asprey were sold at Christie's in London Wednesday for over $120,000. The exceptionally exquisite firearms, included in the auction house's Fine Sporting Guns and Rifles sale, "mark the end of a tradition of impeccably executed gun craft," Christie's notes. Asprey, supplier to the aristocracy and longtime holder of Royal Warrants, closed its gunrooms for good in 1996 shortly after these final pieces were made when the company was acquired by Prince Jefri of Brunei. Prince Charles and George Bush both own Asprey shotguns similar to the ones featured in the sale.

Although Asprey guns are a thing of the past, Asprey scion William Asprey is carrying on the family's sporting tradition at his new firm, William & Son. As we reported previously, he is not allowed to use the Asprey name in trade. William opened his own gunroom at his company's Mayfair premises and is now selling equally impressive pieces. Also hammered down in the Christie's sale were a pair of 12-bore double-barreled shotguns made by Holland & Holland in 1976, for $118,000; a 1969 .375 magnum double-barreled rifle, also by Holland & Holland, for $94,000; a double-barreled 1906 sporting rifle by Purdey, for $31,000; and a modern 12-bore Beretta shotgun, $16,000, all with beautiful engraving and woodwork.

It's one of the economic vagaries of the business that storied British luxury goods firm Asprey of London no longer has any connection (save an historical one) with the actual Asprey family. After the 200-year-old company was sold to Prince Jeffri of Brunei in the '90s, family scion William Asprey decided to start his own firm catering to the aristocratic trade (Asprey had long held royal warrants). However, he discovered to his dismay that he was no longer entitled to the use of his own last name; while Prince Jefri subsequently unloaded Asprey to a hedge fund, William opened a beautiful shop in London's Mayfair under the name William & Son.

Under its new owners Asprey has gone in an increasingly fashionable direction, and while producing some beautiful things it has suffered financial setbacks from over-enthusiastic expansion. William & Son by contrast hearkens back to Asprey's traditional roots, and still maintains an air of clubby exclusivity in its Mayfair premises (pictured above), which stocks high-end jewelry, silver, watches, leathergoods, china and crystal. A key facet of the business is its bespoke service, which will basically fashion anything you like in whatever precious material strikes your fancy as long as you can afford it. More recently William added an adjacent gun room, where beautiful silver-inlaid shotguns can now be had for $100,000 and up. He is certainly following through on his promise to "maintain his family's reputation in the historic splendour of No. 10 Mount Street." And what's in a name, after all?

One of the world's most extravagant spenders, Prince Jefri, the younger brother of the Sultan of Brunei has been ordered to give back his toys. Five English judges have settled a billion-dollar battle between Jefri and the Sultan of Brunei. Prince Jefri has been ordered to give up ownership of two hotels: the New York Palace Hotel, Hotel Bel-Air in Los Angeles, three houses: Cavell House in London, St John's Lodge in London and in 3-5 Place Vendôme, Paris as well as paintings, jewels and a large trust fund.

Prince Jefri has denied stealing his nation's assets and says that he did receive the large sums but they were not misappropriated. Pirnce Jefri is a father of 17 and is the former Finance Minister of Brunei. The Brunei authorities had sued the Prince for embezzlement and aan out-of-court settlement was reached in 2000. Jefri, however, was insistent that his brother had said that his brother had said he could maintain his lifestyle. The judges ruled that the brother's generosity wouldn't extend quite that far. Prince Jefri has vowed to fight the ruling.