How couple who collected Lowry paintings

A couple's good eye for artistic talent is set to earn their children £500,000 as their collection is auctioned off.

The husband and wife, who have not been named, collected paintings by L.S. Lowry before he was well known.

And now their children are cashing in, as investors flock to the art market as a safe haven for investments.

The couple paid small sums for the Lowry works, and hung them at home for years while the reputation of the 'matchstick men' artist soared.

They both died within the last few years and their works passed to their four children, who have decided to sell them at Morphets auction house in Harrogate, Yorkshire.

A painting of a man posting a letter in a red postbox, which the couple bought directly from Lowry, is said to be worth £200,000.

Although known to fans of the artist, the oil painting has hardly ever been seen before as it was bought by the couple two years after it was painted in the early 1960s.

Another is of a man pulling a cart and is worth £70,000, while one showing a mother pushing a pram through a crowd of people is tipped to sell for £65,000.

Even a basic-looking pencil drawing by Lowry has an estimate of £35,000.

Auctioneer Liz Pepper-Darling said: 'This couple were very keen on art and obviously had a good eye for it. When they bought the paintings people in the art world knew who Lowry was but it was a few years before he came to public attention.

'They spent their money very wisely on acquiring what could prove to be a very good investment.

'The paintings hung on the wall of their home in Harrogate but they have been stored in a cupboard since they both died.

'The Lowry works haven't been seen for more than 40 years. They are utterly fabulous, especially the one of the man posting the letter which is stunning due to its simplicity and contrasting colours.'

Other works belonging to the couple which are being auctioned are two oil paintings by Helen Bradley, expected to fetch £50,000, and a painting by French artist Maurice Utrillo, worth around £40,000.

The sale comes at a buoyant time for the art market, which is seen as a relatively safe place to invest money during this period of turmoil in other markets.