At the end of last year, we noted the exceptional sales figures of Canadian art auction house Heffel's might suggest that Canadian art might be an underrated investment market, especially for those unable to chase the multi-million dollar values at the top of other booming market.

The $1m mark was surpassed five times by Heffel, making it the only Canadian auction house to have sold a work of art for more than $1m for the second year in a row.

Heffel's spring 2010 live sale achieved a $22.2m total, the second highest grossing art auction in Canadian history, superceded only marginally by its own $23m sale in May 2007.

Now an opportunity has come up for collectors and investors to try their hand. Heffel's will be holding their Canadian Post War & Contemporary Art and Fine Canadian Art auction in two weeks' time.

Gung Hay Fat Choy by Paul Alexander Goranson

A wide variety of artists' works are on offer, everyone from Kaka Ashoona to Mildred Valley Thornton.

Two of the highlights include: Paul Alexander Goranson's oil on canvas work Gung Hay Fat Choy, an immensely colourful and impressive work done when the artist was in his eighties, just a few years before his death in 2002. It is expected to sell for $5,000-6,000, but is very likely to increase in value.

The top lot is expected to be Rue O'Connell Angle St-Simon, in Disappearing Quebec, another oil on canvas by John Geoffrey Caruthers Little which is listed at $8,000-10,000. The auction takes place exclusively online on February 24.