Excitement is growing in London that a number of collectors are ready to splash out up to $100 million on Damien Hirst's platinum and diamond skull.

According to a report in the Times, the sensational platinum creation is likely to go to a British or American bidder, despite huge interest from the Middle East and Russia.

Nat Rothschild, hedge-fund operator and son of the famous Lord Rothschild, is thought to be one of the most serious bidders. Rothschild was one of those who lost out last month in a bidding war for Hirst's Lullaby Spring and he is said to be keen to get his way this time.

The Times claims that New York financier Adam Lindemann is also interested in purchasing the platinum creation. Steve Cohen, who already owns Hirst's memorable shark in a tank, is thought to be another serious bidder, along with Adam Sender and Eli Broad.

Encrusted with more than 8,500 jewels, the platinum cast of a human skull has been celebrated as one of the most important works of art to come out of Europe for several years.

Hirst has referred to the platinum skull as a celebration of life "by saying to hell with death".

"What better way of saying that than by taking the ultimate symbol of death and covering it in the ultimate symbol of luxury, desire and decadence?"

If Hirst sells the skull for $100 million, as expected, the total value of his latest exhibition will top $360 million, after art collectors including singer George Michael spent millions on the other items on display.

The White Cube gallery will perhaps be most pleased with the success of Hirst's platinum exhibition, as it is receiving 25 per cent in commission from the various sales.

Tim Marlow, exhibitions director at White Cube, told the Times that he was keen to keep the platinum skull on public display.

"We are trying to negotiate a deal with a museum or several museums so whoever buys the jewelled skull puts it on public display, at least initially, rather than simply keeping it at home or in a vault away from the public gaze," he said.