LS Lowry's Father and Two Sons has sold for £1.6m ($2.4m) at Sotheby's.
The painting led a sale of modern British and Irish art in London on November 17, setting a new world record for a portrait by Lowry at auction.
Consignor Frank Cohen commented prior to the sale: "I bought Father and Two Sons back in the late 90s as a present to myself after selling my DIY business.
"It was a lot of money at that time but I couldn't resist as it had always reminded me of the very first job I had after leaving school at 15�Ǫ
"When the boss used to arrive at work - he was the clerk of the company - he'd walk in every morning with his bowler hat on, flanked on either side by two minders with winged collars.
"That image stayed with me forever until I found this Lowry."
A newly discovered illustration by Lucian Freud titled Flyda and Arvid made $713,000.
The piece is the only known portrait depicting both Freud and his first wife, Kitty Garman, and was originally produced for a book titled Flyda of the Seas: A Fairy Tale for Grown Ups.
Ultimately the project fell through and the drawing lapsed into obscurity.
Freud's work has been growing steadily in value recently. Earlier this year, his Benefits Supervisor Resting sold for a Freud record of $56.2m in a New York auction.
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