The painting has only been seen in public once before A rarely seen painting by Pablo Picasso is expected to sell for up to £12m when it goes under the hammer later at Christie’s auction house in London.
Jeune Fille Endormie (1935) is a portrait of the Spanish artist’s lover.
The artwork was donated to the University of Sydney, provided the establishment used money from the sale for scientific research.
Giovanna Bertazzoni from Christie’s said the artwork was an “absolute jewel” of a painting.
Marie-Therese Walter was the subject of many of Picasso’s celebrated works.
The couple met in 1927 when he was 45 and she was 17. The couple spent time together at Picasso’s country home, the Chateau de Boisgeloup, where he created a string of masterpieces.
Nude, Green Leaves And Bust, another portrait of Walter sold last year for a record $106.5m (£65.5m).
Mr Bertazzoni said the artwork, which has only been seen in public once before, is expected to “excite collectors” from all over the world.
Dr Michael Spence from the university said it was a “very generous and far-sighted gift” that was donated to them by an anonymous person.
This article is from the BBC News website. © British Broadcasting Corporation, The BBC is not responsible for the content of external internet sites.