John Constable's view of London from Hampstead proved the headline lot of Sotheby's sale of Old Master & British Drawings in London earlier today.
The painting achieved £794,500 ($1.3m) - an increase of 164.8% on a high estimate of £300,000 ($506,340).
Dating to between 1827 and 1832, the work was created as a study for two larger versions.
One is now housed in the permanent collection of the Paul Mellon Centre for British Art, while the other sold at Christie's London for £565,250 ($961,490) in 2005 - a figure that indicates a rise in Constable's market value.
This is backed up by the recent sale of a set of Constable drawings that achieved growth of 10.0% pa over a period of more than 60 years.
The recent sales may have been boosted by the Constable record set by The Lock in 2012, which achieved £22.4m ($35.2m) - making it one of the most valuable British paintings ever sold.
JMW Turner's Palace of la Belle Gabrielle made £266,500 ($449,799).
The watercolour depicts a view of the river Seine on the outskirts of Paris and displays the artist's technical ability.
In 2010, Turner's Modern Rome - Campo Vaccino sold for an artist's record £29.7m ($50.8m).
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