An oil painting of the Grand Canal by Monet is to be sold next month and could set a new record price for one of the artist’s views of Venice with a price of up to £30 million.

The French impressionist’s work Le Grand Canal, which dates from 1908, has previously been on show at the National Gallery but is to be sold from a private collection at Sotheby’s in London on February 3.

It will form part of the Impressionist and Modern Art Evening Sale and has an estimate of £20 to £30 million as bidders from around the world try to secure the work.

The previous high for his Venice paintings was in 2013, when the same auction house sold Le Palais Contarini for £19.7 million.

Global interest in his work has grown considerably in recent years, with bids in Monet sales coming from almost five times as many countries last year as they did a decade earlier.

Le Grand Canal depicts the domes of Santa Maria della Salute which is situated beside Le Grand Canal, seen from the steps of the Palazzo Barbaro, and it is seen as one of his most celebrated Venice paintings.

Gallery owner Bernheim-Jeune acquired 28 of the 37 views Monet painted during a three-month trip to Venice, although the artist retained them to add finishing touches and they were not put on display until 1912.

The year after the exhibition, Le Grand Canal was acquired by New Orleans-based sugar magnate and collector Hunt Henderson, who amassed many works by Monet, Renoir and Degas.

Helena Newman, Sotheby’s co-head of impressionist and modern art worldwide, said the market for works by Claude Monet has “now reached an all-time point of strength”.

She added: “Reflecting the outstanding quality and beauty of the work, Le Grand Canal was prominently displayed for eight years at the National Gallery, London. Given the painting’s rarity and exceptional quality, and the strong price of £19.7 million achieved when we sold Monet’s Venice view Le Palais Contarini in 2013, we anticipate enthusiastic global interest prior to the sale in February.”

It will be displayed in London, prior to the sale, from January 28.