A couple's good eye for artistic talent is set to earn their children £500,000 as their collection is auctioned off.

The husband and wife, who have not been named, collected paintings by L.S. Lowry before he was well known.

And now their children are cashing in, as investors flock to the art market as a safe haven for investments.

The couple paid small sums for the Lowry works, and hung them at home for years while the reputation of the 'matchstick men' artist soared.

They both died within the last few years and their works passed to their four children, who have decided to sell them at Morphets auction house in Harrogate, Yorkshire.

A painting of a man posting a letter in a red postbox, which the couple bought directly from Lowry, is said to be worth £200,000.

Although known to fans of the artist, the oil painting has hardly ever been seen before as it was bought by the couple two years after it was painted in the early 1960s.

Another is of a man pulling a cart and is worth £70,000, while one showing a mother pushing a pram through a crowd of people is tipped to sell for £65,000.

Even a basic-looking pencil drawing by Lowry has an estimate of £35,000.