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An original pencil sketch of Penshaw Monument by celebrated artist LS Lowry has been sold privately after failing to reach its asking price at auction.

The drawing, simply called Penshaw Monument, had been expected to fetch between £20,000 and £30,000 when it went under the hammer at Anderson & Garland Auctioneers in Newcastle.

The highest bid on the day was well below that and did not meet the reserve price. However, including fees the drawing has since been sold to a private North East collector for £18,500.

The auctioneers say they are “thrilled” to have sold the image of the famous Sunderland landmark for such a fee

The Lowry sketch of Penshaw Monument had been expected to fetch between £20,000 and £30,000 at auction.

The work, drawn by Lowry during one of his many visits to Sunderland, was originally exhibited and sold in Newcastle in the mid 1970s for £350

The seller, also a private collector, had treasured the piece for many years. The sale came as the result of a relocation and lack of space.

Fred Wyrley-Birch, Anderson & Garland director, said: “Whilst initially disappointed that the sketch didn’t sell during auction, given the level of interest the picture had attracted from collectors across the country, we were always confident that the picture would be sold.

“After careful negotiation, the sketch of iconic Penshaw Monument sold to a private buyer from the North East. It’s fantastic that the picture will remain in the region and we’re thrilled to achieve such a great result for all parties.”

An original pencil sketch of Penshaw Monument by LS Lowry has been sold privately after failing to reach its asking price at auction. Image courtesy of Anderson & Garland Auctioneers.

Laurence Stephen Lowry was one of the best known British artists of the 20th century. He “discovered” the delights of Sunderland in 1960 and developed a huge affinity with the then-town.

Between 1960 and his death in 1976 aged 88, he would use Sunderland as his base when exploring the North East.

The artist almost always stayed in room 104 at the Seaburn Hotel, now the Grand Hotel. He loved the view of the North Sea and was particularly impressed by the Bede Memorial Cross in Roker.

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A collection of oil paintings and sketches by Lowry of local scenes are on permanent display in the gallery at Sunderland Museum and Winter Gardens.

The highest price ever paid for a Lowry was £7.8 million at an October 2022 auction of his 1953 painting Going To The Match.

Drawing of Penshaw Monument by Sunderland-loving artist LS Lowry bought privately for £18,500 after failing to sell at auction