Wednesday, June 25, 2008

Christie's in London Sells Monet Masterpiece for $ 80.5 Million A Record for the Artist





Christie's in London sold Claude Monet's "'Le bassin aux nympheas" for £40,921,250 / $80,451,178 / €51,683,539 . Photo: EFE / ANDY RAIN

LONDON.- Christie's Impressionist and Modern Art Evening Sale took place this evening (24 June 2008) and realised £144,440,500 / $283,970,023 / €182,428,352 - the highest ever total for an art auction held in Europe. The top lot of the auction was Le bassin aux nymphéas, a masterpiece painting by Claude Monet which realised £40,921,250 / $80,451,178 / €51,683,539, a world record price for the artist at auction. 34 works of art sold for over £1 million (44 for over $1 million), and buyer activity at the auction (by lot) was 62% Europe including United Kingdom, 34% Americas, 3% Asia and 1% other. The auction saw a total of 8 artist records established, including for Claude Monet, Henry Moore and Natalia Goncharova.

Olivier Camu, Director and Head of Impressionist and Modern Art, Christie's London and Thomas Seydoux, International co-head of Impressionist and Modern Art at Christie's: "This evening's auction realised the highest total for any art auction ever held in Europe, and illustrates the continuing strength and confidence of the art market. We saw particularly strong bidding for works of the highest quality which were fresh to the market. The leading lot of the auction was 'Le bassin aux nymphéas', a masterpiece painting by Claude Monet which witnessed a bidding battle involving many international collectors, before selling to a client in the saleroom for £41 million, a new world record price for the artist at auction. A further highlight was 'Danseuse a la barre', an extremely rare early masterpiece in pastel by Edgar Degas, which also drew bidding from a number of international clients and far exceeded its pre-sale estimate, selling for £13.5 million, the second highest price for the artist at auction."

The top 5 prices of the evening were:

- Le bassin aux nymphéas, a masterpiece painting by Claude Monet which was offered from the Estate of J. Irwin and Xenia S. Miller and which realised £40,921,250 / $80,451,178 / €51,683,539, a world record price for the artist at auction.

- Danseuse a la barre, an extremely rare early masterpiece in pastel by Edgar Degas (1834-1917) which realised £13,481,250 / $26,504,138 / €17,026,819 far exceeding its pre-sale estimate of £4,000,000 to £6,000,000.

- Les Fleurs, circa 1912, a rare and powerful work by Natalia Goncharova (1881-1962) which sold for £5,529,250 / $10,870,506 / €6,983,443, a world record price for the artist at auction, and a world record price for a work by a female artist at auction.

- Draped Reclining Woman by Henry Moore (1898-1986) which was also offered from the Estate of J. Irwin and Xenia S. Miller and which realised £4,297,250 / $8,448,394 / €5,427,427, a world record price for the artist at auction.

- The Portrait of Yanaihara by Alberto Giacometti (1906-1966) which was painted in 1958 and which sold for £4,297,250 / $8,448,394 / €5,427,427.

Property from the Estate of J. Irwin and Xenia S. Miller

The auction was led by a selection of seventeen works from the Estate of J. Irwin and Xenia S. Miller. J. Irwin Miller, an industrialist from Columbus, Indiana, and his wife Xenia Simons Miller, who were major philanthropists and patrons of the arts and who were instrumental in turning the American city of Columbus, Indiana, into a showcase for modern architecture. The seventeen Impressionist and Modern works together realised £67,540,050 / $132,783,738 / €85,303,083, and was led by Claude Monet's Le bassin aux nymphéas which realised £40,921,250 / $80,451,178 / €51,683,539, a world record price for the artist at auction.

Works from the Collection of the late Simon Sainsbury

A selection of 7 works from the collection of Simon Sainsbury were sold this evening for a total of £10,424,750 / $20,495,059 / €13,166,459, led by Collioure. Les Balancelles, 1887, an early Pointillist picture by Paul Signac (1836-1935) which sold for £2,953,250 / $5,806,090 / €3,729,955. One of Britain's most generous philanthropists and discerning collectors, the late Simon Sainsbury assembled throughout his lifetime one of the finest private British collections of the 20th century, from which a selection of furniture, ceramics and art was sold at a landmark auction on 18 June 2008 at Christie's in London for £16,512,025 / $32,214,961 / €20,772,127, bringing the total to £26,936,775 / $52,710,020 / €33,938,586. Proceeds from the sale of the collection as a whole will benefit the charity established by Simon Sainsbury in 1965, The Monument Trust.

Works from a Distinguished European Collection

A selection of 11 works from a Distinguished European Collection assembled nearly half a century ago realised £9,494,550 / $18,666,285 / €11,991,616, and was led by Les Sapins, Varengeville, a luminous coastal landscape by Claude Monet (1840-1926) which was painted in the Summer of 1882, when the artist was staying at Pourville on the Norman coast in France and which sold for £3,177,250 / $6,246,474 / €4,012,867.

The Hoh Collection

The auction sold 7 works from the impressive collection of 20th century avant-garde works assembled by Alfred and Elisabeth Hoh, which toured various German institutions between 1998 and 2000 as the 'Languages of Art' exhibition and which realised £12,816,750 / $25,197,730 / €16,187,555. Leading the selection was Les Fleurs, circa 1912, a rare and powerful work by Natalia Goncharova (1881-1962) which sold for £5,529,250 / $10,870,506 / €6,983,443, a world record price for the artist at auction, and a world record price for a work by a female artist at auction.

ARTIST RECORDS:

Claude Monet (1840-1926), Le bassin aux nymphéas, 1919
Sold: £40,921,250 / $80,451,178 / € 51,683,539
WORLD RECORD PRICE FOR THE ARTIST AT AUCTION
HIGHEST PRICE PAID FOR A WORK OF ART SOLD BY CHRISTIE'S IN EUROPE

Natalia Goncharova (Russian, 1881-1962), Les Fleurs
Sold: £5,529,250 / $10,870,506 / €6,983,443
WORLD AUCTION RECORD FOR ARTIST
WORLD RECORD PRICE FOR A WORK BY A FEMALE ARTIST AT AUCTION

Henry Moore (1898-1986), Draped Reclining Woman, 1957-1958
Sold: £4,297,250 / $8,448,394 / €5,427,427
WORLD RECORD PRICE FOR THE ARTIST AT AUCTION

Vladimir Baranoff-Rossiné (Russian, 1888-1944), The Rhythm (Adam and Eve), 1910 Sold: £2.729.250 / $5.365.706 / €3.447.143
WORLD RECORD PRICE FOR THE ARTIST AT AUCTION

Vera Rockline (Russian, 1986-1934), The Card Player
Sold: £2,057,050 / $4,044,554 / €2,598,307
WORLD RECORD PRICE FOR THE ARTIST AT AUCTION

Oscar Dominguez (1906-1957), Machine à coudre électro-sexuelle
Sold: £1,497,250 / $2,943,594 / €1,891,027
WORLD RECORD PRICE FOR THE ARTIST AT AUCTION

Leo Gestel (1881-1941), Gladiolen
Sold: £505,250 / $993,322 / €638,131
WORLD RECORD PRICE FOR THE ARTIST AT AUCTION

Frits Van Den Berghe (Belgian, 1883-1939), Bloemen over de stad (Fleurs sur la ville) Sold: £241,250 / $474,298 / €304,699
WORLD RECORD PRICE FOR THE ARTIST AT AUCTION

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