British artist Peter Doig's County Rock (Wing Mirror) is to feature in Sotheby's contemporary art sale on June 30 with an estimate said to be in excess of £9m ($15.1m).
Cheyenne Westphal, co-global head of contemporary art at Sotheby's, commented: "The rainbow tunnel is one of the most prominent and resonant motifs in Doig's oeuvre.
"For lovers of Doig, it has a supreme status - akin only perhaps to that of the canoe - and of all the works in which the motif appears, the Country-Rock series is the apogee.
"Doig is a giant in the current market, and this particular work is fabled. Its appearance at auction represents an all-time first - and hugely exciting - opportunity for collectors."
The lot is likely to exceed the artist's current record, which was set at $11.9m for Road House in May this year.
The sale will also feature Francis Bacon's Three Studies for a Portrait of George Dyer.
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