A painting bought for just £30 is expected to fetch up to £350,000 when it goes up for auction later.
The Peter Blake work, Boys With New Ties, was purchased directly from the artist in the 1950s.
It's now being offered up at the Christie's Modern British and Irish Art sale.
Two items belonging to the infamous gangsters the Kray twins will go under the hammer at auction next week. A wristwatch and a bible previously owned by Ronnie Kray and later passed to Reggie Kray are expected to fetch hundreds of pounds.
The bible includes three bookmarks which have been left in their original places. Also up for auction is a painting by one of the UK's most notorious prisioners Charles Bronson which was given to Reggie while in jail.
The New Bond Street auctioneers Bonhams have been showing off a 'fancy' deep-blue diamond which they will auction off on April 24th. Blue diamonds are very rare while the term 'fancy' is used to describe its intense colour.
Two years ago, Bonhams sold another blue diamond ring for £1.9m so their experts predict this one is likely to be sold for a similar sum.
Only 11,000 tickets have so far been sold for the first Olympic event, the woman's football match between Great Britain and New Zealand.
With thousands of tickets still remaining to be sold, London 2012 say they aren't concerned.
A spokesperson said:"We are confident that as excitement builds, people will get behind Team GB as they kick off the Games in Cardiff. With more than two months to go until the game, we are very pleased with ticket sales and across all venues, sales for both Men and Women’s matches are encouraging."
One million Olympic fans have received emails inviting them to join the latest ticket auction. A lucky 20,000 would-be spectators have been given a head start after losing out in both first and second round sales last year. Their email advises them to try again at 11am on Friday.
The remaining applicants can apply at 11am on Sunday - crunch time for London 2012's on-line ticket process.
It has been revealed that 11 o'clock this Sunday will be the critical moment for the London 2012 ticket website. Ticket applicants who have been unsuccessful in previous rounds will get the opportunity to re-apply for tickets.
The 20,000 people who have missed out on London 2012 tickets in the first two rounds of sales will be given priority when 900,000 more tickets go on sale at 11am on Friday.
They will have 31 hours' exclusive access to the tickets before another 1,000,000 people who were unsuccessful in the first ballot last year, will then have a five-day sales period to try to buy tickets on a first-come, first-served basis.
Art work by rocker Pete Doherty - including pieces created with his own blood - are expected to raise tens of thousands of pounds when they go under the hammer.
A collection of paintings, clothes and guitars belonging to the 33-year-old will go on sale on Friday at the Cob Gallery in London.