Amedeo Modigliani's 1919 work Jeanne Hebuterne (au chapeau) is expected to lead Christie's Impressionist and Modern Art Evening Sale in London.
The work, which has his muse and lover as the subject, is expected to sell for up to £22m ($35.2) when it auctions on February 6.
It last sold at Sotheby's in 2006 for £16.4m ($26.5m) - its new valuation indicating the growth in value of the top end of the art market in the intervening years.
The auction record for the Italian artist stands at $69m, achieved by his Nude Seated on a Divan at Sotheby's in 2010, smashing its $40m estimate.
The 36 lots at the sale, which have a total high estimate of close to £100m ($161m), will also include two major Wassily Kandinsky works, "Balancement" and "Murnau - Ansicht mit Burg, Kirche und Eisenbahn", which have £8m ($12.8m) and £7m ($11.2m) high estimates, respectively.
Renoir's £7m-high valued L'ombrelle will also feature prominently, as will Picasso's Nu accroupi from 1960, which has a £5m high estimate.
Christie's will be hoping to improve upon its last auction of impressionist works, in November, which despite the $43.7m sale of an example from Claude Monet's water lilies series, was criticised for its lack of quality.
Christie's Jay Vincze, in charge of the forthcoming sale, commented: "The market continues to demonstrate that a passion for art is key to many of the greatest acquisitions and collections.
"Buyers continue to be hungry for the best and rarest works of impressionist and modern art. We have ensured that this sale focuses on significant works by the most important artists."
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