Early version of famous Victorian 'Derby Day' painting found hanging

An early version of 'The Derby Day,' a panoramic painting by famed Victorian artist William Powell Frith, was found in a New England beach house.

It is one of the era's most famous pictures.

The picaresque image shows crowds at an 1850s horse race, from a rich family in their carriage to gamblers, acrobats, and prostitutes.

The finished painting hangs in the Tate Britain gallery in London.

Peter Brown, Christie's director of Victorian pictures, said the rediscovery of the oil sketch was 'immensely exciting.'

It had been hanging in a modest New England beach house for decades before a friend of the owner suggested it might be worth something.

Christie's won't be more specific about the location because the owner wants to remain anonymous.

Mr Brown said the vendor, who is in his 60s, believes his parents bought the painting some time before World War II, when Victorian art was often dismissed as garish and sentimental.

'It's a testament to the change in fortunes of Victorian pictures over the last century that these things could have been acquired very cheaply indeed in the '30s, '40s and '50s,' said Mr Brown.

Since the 1970s, critical opinion has changed, and works by the best Victorian artists are coveted by collectors.

'It's really a novel in paint and would have been read as such by the Victorian picture-going public,' Mr Brown said.

The painting goes on sale December 15 in London, with an estimate of $477,000 to $800,000.

Mr Frith, one of the era's most successful painters, specialized in busy scenes of daily life, and his subjects ranged from beach-goers to railway stations to royal weddings.

He rose to fame by way of his meticulously painted scenes, which often depicted both the very rich and the very poor.

In 1853, the painter was appointed a full member of the Royal Academy.

By this time, Mr Frith had made plenty of high-profile friendships. He was familiar with fellow painter William Turner, as well as Charles Dickens, who he immortalized in a portrait in 1859.

He was also a favourite of the Royal Family.

'The Derby Day' was so popular when first exhibited in 1858 that a special rail was installed at the Royal Academy in London to hold back the crowds.

In fact, rails had to be installed at no less than six of his paintings.

'The Derby Day' depicts three main scenes.

In the first, on the far left, men in top hats focus on the 'thimble-rigger.'

An acrobat and his son are in the center of 'The Derby Day,' greedily eying a lavish picnic laid out by a footman.

Racegoers on the right hang about their carriages and flirt and also prepare picnics, while a ragged, hungry-looking girl begs for food.