Going to the Mill was purchased by the Guardian's literary editor Arthur Wallace in 1926.
Image: Supplied
A rare work by the painter LS Lowry, known for his depictions of English working-class life, originally bought for 10 pounds is expected to fetch up to £1 million (R25 million) when it goes under the hammer, auctioneers said this week.
The painting, "Going To The Mill", was bought by literary editor Arthur Wallace in 1926 and has been in his family ever since.
Lowry, who died in 1976 at the age of 88, won fame for his paintings of industrial parts of northern England populated with his signature "matchstick" figures.
The work shows mill workers scurrying to work with tall factory chimneys belching out black smoke in the background.
Completed in 1925, it is believed to be one of the earliest sales made by Lowry in an unusual two-for-one deal the buyer negotiated directly with the artist.
Originally priced at £30, Lowry then suggested a price of £10 for the oil on panel work, which was agreed, according to Wallace's grandson Keith Wallace.
"Grandpa wrote a cheque," he said. "Then Lowry wrote back to him saying: 'I think I've charged you too much. Can I give you another one as well?’ So Grandpa got two Lowrys for his £10."
The Wallace family still have Lowry's letter from November 9, 1926 where he writes: "Many thanks for your letter and cheque for £10. I am very glad Mrs Wallace likes the picture."
The second work, "Manufacturing Town", was previously sold by the family.
Simon Hucker, senior specialist in modern and contemporary art at the Lyon & Turnbull auction house, said the painting was a rare yet classic Lowry painting.
"'Going To The Mill' is the epitome of a 1920s Lowry, when he truly becomes a unique voice," he said.
"It is especially rare for a painting such as this to have had only one owner," he added.
A work of similar size and date sold from HSBC's collection last year went for £1.2 million, Hucker said.
"Going to the Mill" will be sold on Friday at Mall Galleries, where it is estimated to sell for £700,000 to £1 million.
After his death, Lowry's work was celebrated in the hit song "Matchstalk Men and Matchstalk Cats and Dogs" by musical duo Brian and Michael.
The song reached number one in the UK pop charts in 1978. | AFP