I recently saw an underwater scene of Atlantis painted by artist William Stout. Although I couldn't find that image on the net, I found plenty of other gorgeous work. I particularly like this image on the cover of "Hallucinations" for the limited color, drawing quality and the placement of those three white elements on the page.
Apparently William has done work for a wide variety of clients, including film design for Guillermo del Toro's Pan's Labyrinth. If you haven't seen this film, it is visually stunning and absolutely worthwhile (if you don't mind disturbing themes and violence).