NG building: Ralph Hotere artwork sells for $35,000

The NG building in Christchurch in the early 1900s. Photo / Supplied

A sum of $35,000 will go towards the fight to save the NG building in Christchurch after a hand-drawn piece of art by Ralph Hotere sold at auction.

Hotere, who died in 2013, is widely regarded as one of New Zealand's most important artists.

His painting - Hang in There Mate - was gifted to the Madras St building's owners in 2013 with specific instructions that it is used to help save it from demolition.

The late Ralph Hotere gifted 'Hang in There Mate' to the NG Building's owners in 2013 with specific instructions that it be used to help save the building from demolition. Photo / Supplied

Its future is currently uncertain as it sits on land intended for the planned $473 million multi-use arena.

The piece went to auction with around 50 others on Thursday night all to raise funds for the building.

Owner Roland Logan said the night was a raging success, with more than 300 people attending.

He said every piece of art sold, with many bids going higher than expected.

"It was a fantastic evening, with fantastic support. I just hope we are getting the message out there that all we want to do is save it.

"It's a beautiful building and that's all we're about."

Logan said he believes Hotere's buyer was an old friend of the artist.

"Ralph would be very happy, I think, expecially for the cause that it's going to."

The Crown is currently in the final stages of compulsory acquisition of the land to begin the stadium project.

However, its owners have obtained interim court orders to maintain ownership of the building and the matter is expected to be argued in the High Court in August.

The building is the last of the Victorian and Edwardian style warehouses seen in Christchurch in the early 1900s.

It escaped the worst of the earthquakes and was one of the first buildings to reopen in the city.