A PORTRAIT painting by Kendal artist George Romney (1734-1802) is expected to fetch up to £318,000 when it is auctioned at Sotheby's in New York on January 27.

Romney received around £42 for the picture of the daughter and grandson of the 18th century Westmorland MP Sir Philip Musgrave in 1777, when the artist was 43.

It means that in the 228 years since it was painted, the picture has multiplied in value 1,394 times.

The current record for a Romney painting is £400,392, which was paid at Sotheby's in New York in January 2002 for the picture called Portrait of Mary.