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Home » $80,500,000 record Monet sale and other results from Christie’s London Impressionist and Modern Art June 24 Sale

$80,500,000 record Monet sale and other results from Christie’s London Impressionist and Modern Art June 24 Sale

June 25th, 2008

A Christie’s worker takes a closer look at Monet’s Le basin aux nymphaes via yahoo

At Christie’s auction yesterday Monet’s water-lily painting, Le basin aux nymphaes, sold to an anonymous collector for $80.5 million, well over the estimated $35 to $47 million. This is a record breaking sale for the artist, and a tell tale sign that there is some life in many sectors of the art market. The other big sale of the evening was Degas’, Danseuses a la barre, which sold for $26.5 million.

A Monet Sets a Record: $80.4 Million [NYTimes]
Monet fetches record $80.5m [FinancialTimes]
Christie’s in London Sells Monet Masterpiece for $ 80.5 Million A Record for the Artist [artdaily]
Monet record smashed as art market boom goes on [Forbes]
$80M A Whole Lot of Monet [NYPost]
A lot of Monet as Christie’s sells waterlilies for record £41 million [Times Online UK]
Monet record smashed as art market boom goes on [Guardian UK]
In London, Will Moderns Move? [NYSun]
AO Preview: Christie’s London Impressionist and Modern Art [ArtObserved]

Le bassin aux nympheas at Christie’s in London via artdaily

Le bassin aux nympheas is one of four from the water-lily series completed by Claude Monet in 1919. The painting had not been publicly exhibited for over 35 years, which added to the excitement surrounding its reveal. The Monet was apart of the sold out collection of J. Irwin, the deceased chairman of Cummins Engine Company, and Xenia S. Miller. Their collection was undeniably a high point of the auction; it also included a Picasso called La Carafe.

Le bassin aux nympheas at Christie’s in London via NYTimes

Danseuses a la barre at Christie’s auction house in London via yahoo

The success of the sale yesterday goes to show that despite the struggling global economy, the art market continues to flourish. Both the Monet and the Degas collected well over their estimated price, but on the other hand, the lower valued art struggled to meet their mark. This can be attributed to an increase in high-end spending within the top tier of collectors, but a lack of smaller collectors to buy up the lower priced art.

Christie’s worker poses with Monet’s Le basin aux nymphaes via yahoo

One Response to “$80,500,000 record Monet sale and other results from Christie’s London Impressionist and Modern Art June 24 Sale”

  1. C-MONSTER.net. » Blog Archive » The Digest. 06.26.08. Says:

    [...] are some expensive-ass water lilies: Monet painting sells for $80.5 million at auction. More here. In related news: It’s the über-rich that are keeping the art market [...]

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