Can't create AutoRedraw image (Error 480)

Visual Basic can't create a persistent bitmap for automatic redraw of the form or picture. This error has the following cause and solution:

• There isn't enough available memory for the AutoRedraw property to be set to True.

  Set the AutoRedraw property to False and perform your own redraw in the Paint event procedure, or make the PictureBox control or Form object smaller and try the operation again with AutoRedraw set to True.