A painting that's said to be the most famous Anzac image goes up for auction tonight.

The Simpson and his Donkey painting depicts a New Zealand man, Richard Henderson, using a donkey to take a wounded soldier to medical assistance at Gallipoli.

International Art Centre's director, Richard Thomson, says Horace Moore-Jones' rare piece of history will go under the hammer tonight.

"He did six different versions of it. This is the smallest one of the six that we are aware of - there are larger ones in museums."

Thomson says it's a well sought after piece of artwork.

"Oh there's been a lot of interest in it. I mean, there's always interest in military subjects but this picture is one of those iconic scenes of World War 1."

He says the painting could fetch over $200,000.