The painting was estimated to sell for between its reserve and $1.5m but the highest bid was $875,000.
Plumbly said the vendor will now enter negotiations with the highest bidder for the painting. If the $1m reserve isn't met, it will be passed in.
Greg Moyle and the Colin McCahon painting Kauri Tree Tops that he's selling so he can buy more art for his Mt Albert Grammar School collection. Photo / Alex Burton
However, some of the 21 works up for grabs earned more than expected.