Photos by legendary photographer Irving Penn, who died yesterday, are set to be auctioned at Christie's in New York today amid speculation that prices may spiral.rnrnPicture credit: Christie's Images Ltd 2009

Photos by legendary photographer Irving Penn, who died yesterday, are set to be auctioned at Christie’s in New York today amid speculation that prices may spiral.

The photos by Penn include ‘Ballet Society’, a 1948 silver gelatin print estimated – before the photographer’s death – to fetch up to $30,000.

Also for sale is a 1970 image entitled ‘Three New Guinea Children’, described in the catalogue as a platinum-palladium print.

Auctioneers expected this photo to raise $15,000-25,000.

The pictures are included in an auction of photos, set to take place later today.

Christie’s New York had yet to respond to our request for comment at the time of writing.

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Picture credits: Christie’s Images Ltd 2009