A small portrait by Charles Goldie valued at about $250,000, failed to attract any bids at an auction on Tuesday night.
Ngaheke The Widow was painted in 1915 and bought by the current owner about 50 years ago.
Dunbar Sloane auctioneer Anthony Gallagher says he was surprised it did not sell, but puts the lack of bids down to the painting's small size and the fact it had been restored.
He says the market place has become fickle in recent months - and buyers are not willing to part with that much money unless the painting is high quality.
