Alfred Reginald Thompson's A Modern Cocktail Bar sold for £60,000 ($97,860), its high estimate, at Christie's Food and Drink sale in London on January 16.
Commissioned for the newly opened bar at the Saville Theatre in London in 1931, the painting depicts various members of the city's theatrical elite.
Thompson (1894-1979) was primarily a commercial artist, producing campaigns for the Ministry of Information and Daimler Cars among others.
During the second world war he worked as the official artist to the RAF, and was the last person to ever be awarded a gold medal for painting, at the 1948 London Olympics.
An Elephant Bird egg was another highlight, achieving £40,000 ($65,560) against an estimate of £30,000 ($49,170) - an increase of 33.3%.
The egg originates from the island of Madagascar, where the large flightless birds roamed until they became extinct in the 18th century.
They have proven popular items at auction in recent years, with a particularly fine example realising £66,675 ($101,613) at Christie's in April last year.
After Dinner, a 19th century painting by an unknown artist of the French school, also performed well.
It realised £22,500 ($36,878) against a £10,000 ($16,390) high estimate - up 125%.
We have Mahatma Gandhi's personal bowl and cutlery set available to purchase.
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