On May 7, Sotheby's in London will stage an auction of important Sporting Art, headlined by two Sir Alfred Munnings equestrian paintings worth several million dollars. The top-priced piece of the sale is Munnings' "A Boy And His Pony - Portrait of Daffern Seal on Canary" painted in 1926. With an estimate of $3 - $5 million, it's one of the highest-priced equestrian portraits ever; however, it's worth noting that in 2004 Sotheby's sold a Munnings entitled "The Red Prince Mare," which had formerly belonged to Mr. and Mrs. John Hay Whitney, for $7.8 million, almost $2 million over estimate.

The second-highest lot in the May 7 auction is also a Munnings, "Portrait of Lady Barbara Lowther on Horseback" painted in 1919, with an estimate of $1.6 - $2.4 million. However, we happen to prefer the work of earlier artists such as Ben Marshall and John Frederick Herring, Sr., whose "The Match Between Priam and Augustus at Newmarket," painted in 1831 and pictured above, is estimated at $1 - $1.4 million -- a relative bargain.