The painting entitled Miss Margaret Macfarlane is expected to bring �200,000

"It may still be sold privately after the auction if somebody makes an offer," he said.

The portrait features a 13-year-old girl sitting on a carved chair draped in blue satin.

It was part of the annual sale of Scottish colourist and sporting pictures at Hopetoun House.

Ferry, whose hits with the group Roxy Music include Love is the Drug, Virginia Plain and Jealous Guy, is a keen art collector.

The re-formed band begins a UK tour at Glasgow's SECC in June.

Walton was one of a group of Scottish artists dubbed the "Glasgow Boys", a team of successful painters who studied at the Glasgow School of Art in the late 19th century.

Record price

A painting by Scottish colourist Francis Campbell Boileau Cadell entitled The Matador had been expected to fetch between �80,000 and �120,000 at the sale, but eventually went for �174,000.

And a record price was paid for a work by George Leslie Hunter.

Still Life with Flowers and Fruit fetched �78,300.

The auction also included two paintings by Robert Gemmell Hutchison.