Children on Cycles by Demas Nwoko features a black truck at the top, with four black children, some in white and some in yellow on a red background. The four children are streamlined and abstract, with heads but no faces.

What you see: Children on Cycles, a circa 1961 painting by Nigerian artist Demas Nwoko. Bonhams estimates it at $70,000 to $100,000.

The expert: Giles Peppiatt, head of African art at Bonhams.

How prolific is Nwoko? Not at all, really. His later career was as an architect. In the last 10 years, I’ve only seen four or five come to market. We’ve been lucky enough to sell three in the last four years.

When did he stop painting? I would say by the end of the 1960s he had pretty much stopped painting to concentrate on architecture.

He hasn’t gone back? No. He was born in 1935. He’s a very elderly gentleman. I think he’s hung up his paintbrush.

Do collectors prefer works from this point in his artistic career? The early 1960s is more unusual and very nice to have in some ways. He was at his most formative.

The painting is undated. How do we know he made it circa 1961? Because it was bought at the Mbari Exhibition in 1961 [in Nigeria], and it was painted for that. It was his first exhibition.

Is this image typical of his work? I would say it’s typical. When I was sent the image, I recognized it immediately. It’s definitely his kind of subject and his manner of painting. His output is not large, and he’s not a household name, but that doesn’t make him less important as an artist.

Could you tell the story of how the painting was rediscovered? I was just sent this image by the Bonhams representative in Boston. It came from the son of the collector. It had been under a bed. We knew the collector had been in Nigeria in the 1960s. They asked, “What about this, is it special?” I said it was very special indeed. It’s nice to liberate it from its dusty lair under the bed.

Speaking of it having been stashed under a bed for 50-odd years, what sort of condition is it in? Putting it under a bed keeps it pretty safe. It got a bit dusty, but the dust can be taken off. [Under a bed] is the safest place, normally. It’s important not to move it because it can get damaged.

The family didn’t display it? It’s so easy for us, knowing what it’s value is, to say, “What are they doing? Are they mad?” If you didn’t think it was anything, you wouldn’t know it was anything.

Still, I’m surprised they didn’t hang it up. It has wall presence, yes? I agree. Every piece of art is taken a different way. For whatever reason, they didn’t display it.

So Children on Cycles was known, but considered lost until now? In some ways, it was. The only previously known image of it was a black and white photo in the archives of the Harmon Foundation.

People hear stories like this all the time, of some amazing piece of art discovered in an attic or a basement after decades… this stuff actually happens. What’s nice about the story as well is the artist is like a J.D. Salinger figure. He was an incredibly talented artist who became a recluse. He became an architect and became known as an architect. I think it’s glorious, the fact that his art is coming to light and fetching strong prices.

Is he reclusive, or does he just not promote his artistic career? I would say the latter. He’s not in any way promoting his art. He’s not a hermit, but he doesn’t go to art events.

Did he paint Children on Cycles from his observations of his surroundings, or is this an invented image? I don’t know. It could be his imagination, but he’d certainly see children on cycles. The red road is redolent of the baked clay roads they have in Africa. I wouldn’t be surprised if it’s what he observed.

What is it like in person? Are there aspects of the painting that the camera doesn’t pick up? In my view, it looks better in the flesh. When you get in front of the original work, it’s a lot more impressive. It’s the simplicity and the spareness of the work. The colors are strong and glowing.

How did you arrive at the estimate of $70,000 to $100,000? We’ve sold two or three Nwokos in the past two or three years. It [the range] is about right. I won’t be surprised if it performs a bit better. It’s one of the nicest and best Nwokos I’ve seen.

What’s the world auction record for a Nwoko? Was it set at Bonhams? Yes, we did set it. We sold Metro Ride in October 2017 in London and Rickshaw Ride in October 2018 in London for the same sum–$106,503.

What are the odds that Children on Cycles will set a new auction record for Nwoko? At the risk of giving it the kiss of death, I think there’s a chance it will break the record. Nothing is certain at auction, but at $107,000, it hasn’t got far to go.

Why will this painting stick in your memory? Probably because of the way it was discovered! [Laughs] Quite often, one goes to a collector and [the work to be consigned] is hanging on a wall to great fanfare. This came along rather gently.

How to bid: Children on Cycles is lot 6 in the Modern & Contemporary African Art sale at Bonhams New York on May 2, 2019.

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Giles Peppiatt appeared on The Hot Bid once before, speaking about a record-setting sculpture by Ben Enwonwu.

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