A historic painting by French post-impressionist artist Paul Gauguin failed to sell at a London auction despite being displayed for the first time in 15 years.

Nature morte à ‘L’Esperance’ was expected to sell for around €11.7 million when it appeared at Christie’s auction house, but failed to meet its reserve price.

The 1901 painting, which depicts sunflowers in tribute to friend Vincent van Gogh, was displayed at the 1906 Salon d’Automne exhibition that strongly influenced modern pioneers Henri Matisse and Pablo Picasso.

Christie’s auction, which raised £61.8 million, came a day after rival London auction house Sotheby’s held its own Impressionist and Modern art sale, which raised £68.8 million.

The most expensive item during the auction was Pierre Bonnard’s Terrasse a Vernon, which sold for £7.2 million . The “colourist” painting portrays the view from the French painter’s Norman house.

Christie’s held a sale of Art Of The Surreal, which realised a further £30 million.

The highlight of the auction was the four million pounds paid for Salvador Dali’s Etude pour ‘Le miel est plus doux que le sang, one of the Spanish surrealist’s earliest articulations of his signature dream-like imagery.