Portland's largest art auction begins at 6 p.m. Friday at Holiday Inn by the Bay, with a watercolor of a hunting scene by British artist Sir Alfred Munnings estimated to sell for between $400,000 and $600,000.

The annual Barridoff Galleries auction of American and European art also includes an oil by John Leslie Breck that gallery co-owner Annette Elowitch believes may be based on a view from the stern of Claude Monet's boat. That painting, "The River Epte, Giverny," is estimated to go for between $200,000 and $300,000, Elowitch said.

Elowitch said Barridoff assembled items for this year's auction mindful of the sluggish economy, "turning anything down that was mediocre" and stocking the sale with paintings that are all mostly new to the market.

Some examples of that include two middle-period oils by Marguerite Zorach, both untouched until recently when they were cleaned. They came from a West Coast branch of the Zorach family, and are "totally unknown," Elowitch said.

The auction opens with previews from 5 to 8 p.m.Thursday and 10 a.m. to 5 p.m. Friday.

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