All proceeds from the sale are going to charities Cure Kids and the Family Centre, based in Queenstown.
The painting is of a working woolshed, and although Shrek is not in the painting, merinos and shearers are the subjects.
Mr Beadle said he had got to know Shrek owner John Perriam and was asked to do a painting of Shrek. But he felt that would not quite suit his talents, so he suggested creating a painting of a woolshed with blade shearers in action.
Mr Beadle said it was hard to construct the painting. ‘‘It's not an easy subject. This is the fourth attempt at it. It took a while to get the lighting and movement right.''
The painting was modelled on Kawarau Station's woolshed.
Mr Beadle said he was surprised how high the bids had gone: the top bid was yesterday $21,000 with a week to go in the silent auction.
The 1m by 60cm painting is on display in the Amisfield winery at Lake Hayes.
Cure Kids funding manager Josie Fitzgerald said Shrek had raised more than $115,000 for Cure Kids since 2004.
