Dark Roses In Pot, which was painted during the later part of Peploe's career, will be up for sale at Bonhams' autumn sale of Scottish art in Edinburgh on September 25.
Peploe died in 1935. Dark Roses In Pot was later displayed as part of a Royal Scottish Academy Festival Exhibition celebrating the work of three Colourists - Peploe, Francis Cadell and George Leslie Hunter - in Edinburgh in 1949.
Bonhams said Peploe's painting showed the "bold, confident vigorous brush and palette-knife technique of a master at the height of his powers".
Chris Brickley, the auctioneering firm's head of Scottish Art, said: "It is one of a series of still-life paintings on a domestic theme in which the mature Peploe explores the tonal capacities of his palette to create memorable images."