A portrait by Lucian Freud of a contentedly smiling woman, regarded as a turning point in the development of the style that made him one of the most instantly recognisable and expensive contemporary painters, is expected to fetch up to £4.5m when it is auctioned by Christie's in June.
The estimate is an indicator of the meteoric rise of Freud's prices: the last time Christie's sold the painting in 1973 on behalf of Ann Fleming, wife of James Bond creator Ian Fleming, it fetched £5,040.
Woman Smiling is an exceptionally cheerful portrait for Freud, of Suzy Boyt, an artist herself. She was a pupil of Freud's at the Slade art school before she became his lover for a decade, a friend for much longer, and mother of five of his many children, including the novelist Susie Boyt.