A goblet made by William Beilby has set a new world record for a piece of 18th century glassware by the renowned manufacturer.

The circa 1766 goblet, signed by the Newcastle glassware maker, sold for £117,000 on November 30 in London.

It is a sign of the growing desire among collectors for the finest investment-grade pieces of glassware.

The goblet is one of only 16 signed by Beilby

Featuring the coat of arms of Prince William V of Orange, it had come to the Bonhams auction with a low-end estimate of £100,000.

The Beilby workshop was famed for its enamel glass decoration.

Simon Cottle, head of Bonhams' glass department, explains that the majority of Beilby glassware goblets with royal coats of arms now reside in public institutions around the globe.

"The Prince William V of Orange… is one of only four left in private hands," he said.

"It is also one of only 16 glasses to be signed, and at an imposing 30.2cm in height it is by far the largest of all Beilby goblets."

Cottle added that its production may have helped Beilby's entry into the valuable Dutch glass market.

"Its large size and colourful enamel decoration would have been particularly impressive to the Dutch at a time when their craftsmen were producing smaller, engraved pieces," he said.

The Beilby goblet was the star attraction at the Bonhams sale of the esteemed collection of A C Hubbard Jr.

The Baltimore, US collector had assembled a fine collection of collectible, investment-grade pieces of English and Dutch glassware from the 17th and 18th centuries.

A 1767 rare Beilby "privateer" colour-twist wine glass made £30,000, while a Queen Mary baluster wine glass, circa 1680 to 1690, achieved £25,000.