Peter Doig's Cold Blooded is to highlight a sale of contemporary art at Sotheby's London on February 11.
The piece, which dates to 2003, is valued at £400,000-600,000 ($613,548-920,322).
It was painted shortly after Doig's arrival in Trinidad, where he has lived since 2002. The move profoundly affected his work, which had previously been informed by the snow and wide-open spaces of his childhood home in Canada.
The work was inspired, in part, by Honore Daumier's The Print Collector - a work described by Doig as "a great painting of someone looking at paintings".
He explains: "Although the title of the painting tells us that the man in the dark hat is a collector looking at prints in a gallery, I want to think of him as an artist. I feel his demeanour and clothing suggest that here is an artist looking at works-in-progress in a studio."
Doig is one of the most valuable living artists, his Pine House (Rooms for Rent) selling for $18.1m last year - a record for Doig.
George Condo's Pierrot Lunaire (Comic Strip Painting) is valued at £350,000-450,000 ($536,854-690,241).
It's a typical example of Condo's playful and disconcerting work.
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