A multi-million-dollar BNZ art collection is going up for sale

The more than 300 New Zealand paintings, prints and photographs include works by Colin McCahon, Rita Angus and Ralph Hotere.

They're expected to raise more than $10 million when they go under the hammer at Webb's Auctions in September.

The proceeds will to to a philanthropic foundation set up by BNZ.

A selection of the art will go on tour in Christchurch, Wellington and Auckland in August and September before the sale.