The Fair, a painting by Sir Alfred James Munnings (1878-1959), will auction at Bonhams London on January 22.
The lot, valued at £150,000-250,000 ($247,230-412,050), will headline the 19th Century European, Victorian and British Impressionist Art sale.
Munnings was a well-regarded painter who specialised in horses, going on to become president of the Royal Academy of Art in 1944 - a position he used predominantly to attack modernism.
He is most commonly associated with the Newlyn school of artists - a group based in the Cornish village of St Ives.
The painting depicts a rearing horse at a country fair - a theme that the artist returned to throughout his career. The record figure for his work at auction is $7.8m, set by The Red Prince Mare at Christie's in 2009.
A smaller painting achieved $45,000 at Christie's in November last year.
At the Park Gate by John Atkinson Grimshaw (1836-1893) is valued at £150,000-200,000 ($247,230-412,050).
Grimshaw is best known for his eerily atmospheric paintings of night scenes in Victorian towns that draw inspiration from the pre-Raphaelites.
His work has grown in popularity in recent years, with a string of high profile sales.
In 2012, Grimshaw's Southwark Bridge achieved £361,250 ($597,000) at Christie's London. His auction record is £612,800 ($1m), set at Sotheby's in 2006.
We have a range of art and photography collectibles available to purchase, including this handwritten letter from the impressionist painter Pierre August Renoir.
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