AN oil painting by Southampton's greatest artist, which was sold for £294 50 years ago, is expected to fetch close to £500k when it is auctioned next month.

Wedding Cards by Sir John Everett Millais is less than nine inches by seven inches and shows a young woman.

It was painted by Millais in 1854 when he was in his 20s and takes its name from the now largely forgotten Victorian custom of newly-weds sending cards to their friends inviting them to visit them at home.

One of the bidders could be musical composer Lord Andrew Lloyd Webber, one of Britain's richest men, who already owns 11 Millais pictures.

The sale of the picture - at Christie's in London on June 5 - coincides with the 179th anniversary of Millais's birth in Portland Street on June 8, 1829.

The picture has changed hands at least ten times since it was painted more than 150 years ago.

Agnews, a leading firm of London West End art dealers, has bought the painting four times over the centuries - twice in the 1800s and twice in the 20th century.

More recently the painting was owned by Lord Blackford, who died in April 1977; and it has now been put on sale by his trustees.

Just 50 years ago, on June 6, 1958, the painting was sold at Christie's in London for 280 guineas, or £294 in modern money.

Since then the value of Millais's work has soared and at Christie's in London on June 10, 1999, a new world record for a picture by Millais was set when his painting, Sleeping, sold for £2,091,500. One of his most famous paintings, Bubbles, was used to promote Pears soap.

Millais became one of the most respected painters of his era. His importance as an artist was confirmed on December 18, 1863, when he was elected to the prestigious Royal Academy.

Since the Royal Academy was founded in 1768, there have been only 590 members including Turner, Constable, Gainsborough and Reynolds.

At Millias's funeral his pallbearers included two earls, a viscount, a marquess, two knights and former prime minister, Lord Rosebery.