Ida Valley painting could fetch $100,000

A painting by the New Zealand artist favoured by one of music's most recognised names, Elton John, is expected to sell for up to $100,000 at an art auction in Auckland at the end of the month.

Grahame Sydney's 1999 oil on linen, Summer Night, Ida Valley, would join a catalogue of important, early and rare art at the sale on March 30 at the International Art Centre in Parnell.

Director Richard Thomson said the painting was expected to bring between $80,000 and $100,000.

He said Sydney was best known for his magnificent landscapes of Central Otago and was an artist of such universal appeal that some of his work was owned by Sir Elton John, Nelson Mandela and Sam Neill.

Another rare work in the sale was Les Deux Amies (The Two Friends), a 1953 oil on canvas by Dame Louise Henderson.

The painting, also expected to bring up to $100,000, was one of New Zealand's "cubist treasures", said Mr Thomson.

Other rare and important works included a major work by Marcus King of an historic arrival by Maori on the shores of New Zealand; a 1964 work, Waterfall, by Colin McCahon; and Lilypond, a 1987 oil on canvas by Peter Siddell.

Mr Thomson said the art market had remained relatively stable in the last 12 months with buoyant bidding for works of quality.