The ad, part of a series created by TBWA\London, breaks today (24 May) and shows Kay having a watercolour painting valued by an art expert. It goes on to show his disbelief at the £200 price tag put on the item. John Smith's media planning and buying is carried out by Starcom MediaVest.
Kay, who starred in the John Smith's 'No Nonsense' TV ad campaign from 2002 to 2005, renewed his partnership with John Smith's at the Grand National at Aintree last month, which is sponsored by the Heineken UK-owned brand.
The first ad since his return to the role broke earlier this month, and showed Kay plain-speaking honestly about his dream date during dinner with friends and his screen wife, Alison Darling.
Gareth Turner, senior brand manager at Heineken UK, said: "We've had a terrific response to Peter's return which coincided with the General Election. With all the political wrangling of the last couple of weeks, it's time to bring a little more no-nonsense fun back to the lives of the great British electorate."
Al Young, Creative Director at TBWA\ London, said: "What's interesting about antiques shows on TV is that there are a couple of social rules that are expected to be played out – having to put on a brave face when you're told your prized possession is of little financial value or having to act calm and unexcited if the expert reveals you're the owner of a masterpiece. All we really want to see is an honest reaction and, in 'Antiques', that's exactly what we get from Peter's character."