But it is only in recent years that the oil painting of one of Halifax's former mayors has been rehung so that visitors to the theatre can see it.
It had been "lost" for more than 40 years in the theatre's basement and was only discovered during restoration work.
At the time of its discovery in 2005, little was known about the subject and practically nothing was known about the artist who painted it.
Now all that has changed, thanks to Calderdale historian David Glover, who has revealed that the man behind the painting was an artist of international acclaim whose work was fit for a king.
The portrait of Sir George, who served as Mayor of Halifax in 1895 and again in 1897, was painted by Richard Jack, RA who, as well as being famed for his portraits, was well known for his skill as a painter of figure subjects, interiors and landscapes.
His work is now desired by collectors worldwide and in recent years his paintings have fetched vast sums of money.
A 1913 oil painting, entitled The Toast, was auctioned for a staggering £98,854 at Christie's, London in 2003 and the following year his work, The Drawing Room At Londonderry House, Park Lane, painted in 1934, was sold for £19,120.
Born in Sunderland in 1866, he studied at York School of Art, winning a national scholarship to the Royal Academy of Art in 1886, followed by a travelling scholarship two years later.
"He then went on to study in Paris under the supervision of the French artists Bouguereau, a famed painter of his day, and Robert-Fleury," says David.
"On his return to London in the early 1980s he worked for a time on the staff of The Idler, a literary and humorous magazine started by author Jerome K. Jerome, and for Cassell's as a black-and-white artist."
He adds that Jack exhibited at the Royal Academy from 1893, also at the New Gallery and abroad and at the Paris International Exhibition in 1900 he was awarded a silver medal.
Jack was also famous for painting portraits of King George V and Queen Mary, the grandparents of our Queen, at Windsor, as well as interiors of Buckingham Palace.
He was a Royal Academy artist when the First World War broke out in the summer of 1914 and it was thanks to his interest in the military subject, with paintings of soldiers on leave in London, that he came to the attention of Max Aitken, later Lord Beaverbrook.
Beaverbrook commissioned him to undertake a monumental battle picture of the Canadians at Ypres and a second commission followed on the Vimy Ridge attack of 9 April 1917.
From about 1930 onwards, Jack lived and worked in Canada and it was here, in Montreal, that he died, aged 86, on June 29, 1952.
Jack's paintings can now be seen all over the world, including at the Dalhousie Art Gallery in Nova Scotia and at the Tate in London, home of his 1912 work Rehearsal With Nikisch (the Hungarian composer.)
The Royal Academy of Arts in London houses On The Moors, painted in 1921 and another oil, Return To The Front - Victoria Railway Station, 1916 can be seen at York Art Gallery.
"How exactly Jack was chosen to paint Sir George's portrait is not known but it would be nice to find out. A similar portrait also hangs in the town hall in Halifax. Whether or not that's the same artist, I cannot say," says David.
"I am pleased the portrait is back in pride of place at the Victoria though. Most people will walk straight past no doubt and not realise who it is or why it is there but I think it's fitting it should be in the foyer. It's part of the town's history."
l An exhibition entitled A Picture Tells A Thousand Words, featuring Jack's painting Return To The Front, is now running at York Art Gallery, until January 11.

And the man who inspired it...
SIR George Smith was born in Halifax in 1846. He was educated in Birmingham while his father was working in the area but the family returned to Halifax in 1864 and were involved with the wire-manufacturing company, Frederick Smith and Co at Caledonia Wireworks, Charlestown Road (the premises were demolished in 2002.)
He was married twice, firstly to Mary Farrar of Halifax with whom he had several children (she died in 1885 aged 37) and secondly to American Harriet "Hattie" Fisher of Massachusetts.
He was first elected to Halifax Borough Council in 1892 served as Mayor twice between 1885 and 1897 – during his first year of office had the honour of welcoming the Duke and Duchess of York (later King George V and Mary) to Halifax to open the new infirmary and Borough Market.
His most important monument is perhaps the Victoria Theatre which he strongly promoted – he was chairman of the developers and laid the foundation stone in 1899.
He was honoured with a knighthood in 1913 and it was then he adopted his wife's maiden name as a prefix to his own. In 1918 he was awarded the Freedom of the Borough and in 1928 the council invited him to sit for his portrait by Jack, which was originally unveiled in the town hall but later transferred to the Victoria Theatre.
Sir George died at his family home, The Gleddings, on March 19, 1931 at the age of 84.