Valuable Colin McCahon painting Comet stolen from Sydney home

The painting entitled Comet is of a darkened night scene and is over a metre in height. Photo / NSW Police

A valuable painting by celebrated New Zealand artist Colin McCahon has been stolen in Australia.

The large artwork, valued at more than $200,000, was stolen from a home in Balmain when the owners were moving house.

New South Wales police are investigating the theft of the 100cm x 75cm painting called Comet F13.

It is understood the painting was stolen on Sunday, July 2, from inside the home.

A set of stereo speakers were stolen at the same time.

The theft was reported to police from Leichhardt Local Area Command who are investigating.

McCahon painted Comet in 1974.

The celebrated artist died in 1987 is considered one of New Zealand's foremost modern artists.