If presale estimates are anything to go by, a highlight of this month's Stephan Welz & Co (Swelco) auction in Cape Town will be another stage in the rehabilitation of Tretchikoff as a major investment-grade artist. In a generally low-key sale, his Hindu Dancer is estimated at R1m-R1.2m.

It’s one of only two lots with a R1m-plus estimate, the other, and higher priced, being an unusual Pierneef landscape of Struisbaai, at R1.4m-R1.6m.

While as usual there are two sessions of fine art, the whole sale will be concluded on only one day, February 23. There are 120 lots of minor visual art in the afternoon session, with a gross low estimate of about R960 000, for an average of just under R8 010. The evening session comprises 112 lots with a gross low estimate of just over R9.5m, for an average of just under R86 500, making an overall total of 232 lots with a gross low estimate of just under R10.5m and an average of just under R45 150.

Only eight works carry low estimates of R200 000 or more. Apart from the two R1m-plus lots, other features include a Maggie Loubser head at R700 000-R900 000 and a Cecil Skotnes Metaphysical Landscape (oil on wood) at R600 000-R800 000.

Unusually, the cover lot is not a visual art item, but an attractive 18th century Italian commode, estimated at only R60 000-R80 000. An attempt to focus attention on this component of the offerings, rather than fine art?