Established and emerging artists, including Emma Carter, Mary Witsey, Nigel Wilson, Graham Brinsley, Simon Deaker, Karen Scott, Jan Crawford, Donna Demente and Brian Millard have put up works for auction.
More than 100 paintings, textiles, sculptures, forged metal art works and jewellery will be on offer in the Queenstown Memorial Hall.
Also in the silent auction running throughout the evening will be works by "future Picassos" - pupils at the school.
People can view the works from 2pm to 4pm in the hall on the day, before the evening begins with a complimentary glass of Champagne and canapes from 6pm.
The live auction will begin at 7.30pm.
Well over 150 residents, visitors, parents and friends of St Josephs attended the previous biannual auction in September 2006, which raised about $12,000 for school coffers.
Locations auctioneer and art aficionado Alan Sutton returns to juggle the bids.
Artists place a reserve on their works and the auction sells on their behalf, with 30% of each sale directed to the school.
Parent Teacher Association chairwoman Sonya Taylor said sponsorship provided by Nomad Safaris, the ASB Bank and The Duplicator meant organisational costs were covered and all money raised would directly benefit the students.
"A lot of work is going on behind the scenes to ensure we have a varied collection of works to be auctioned. There will definitely be something to suit all tastes and budgets," Ms Taylor said.
School board member and auction founder Louise Ward said artists had given the auction great support and complimented it on its professionalism and gala atmosphere.
"It's a great way to see such a variety of work by surrounding artists in one place at affordable prices," Mrs Ward said.
The auction was the latest event in the school's fund-raising calendar in an attempt to meet the extra costs associated with additional teaching resources needed this year.
The resources covered a range of student special requirements, from reading recovery to learning and behaviour needs requiring one-on-one teacher aid.
Tickets for the event cost $10 and are available from St Josephs School, in Beetham St, the ASB Bank, in Camp St, and at the Queenstown Memorial Hall, during the viewing hours and when the doors open.
