Recent exhibitions of Claude Monet's works at the Royal Academy in London and now at the Orangerie museum in Paris have had a boosting effect on the prices of his works during sales at Christie's and Sotheby's on May 11th 1999 in New York.
His painting La Meule (The haystack) went for US $ 11,9 million, just under the high pre-sale estimate, to a buyer who also acquired other paintings, two by Monet, one by Sisley, one by Signac and a sculpture by Rodin for a total of US $ 24,5 million.
La Meule was sold in June 1987 in Bayeux, Normandy, for half the price it fetched in New York and had remained unsold in a Christie's sale in 1990. It had first been acquired by the Nahmad brothers both active as dealers in New York and in London.
Monet's Waterloo Bridge painted between 1899 and 1901 fetched US $ 9,3 million against an estimate of US $ 4 to 6 million. Sold for a mere US $ 282,000 in March 1985 at Sotheby's it went to the same buyer of La Meule who also acquired Monet's Cabane des douaniers, effets du matin of 1882 for US $ 1,8 million. It had been sold by Christie's in 1987 for US $ 650,000.
Recent exhibitions of Claude Monet's works at the Royal Academy in London and now at the Orangerie museum in Paris have had a boosting effect on the prices of his works during sales at Christie's and Sotheby's on May 11th 1999 in New York.
His painting La Meule (The haystack) went for US $ 11,9 million, just under the high pre-sale estimate, to a buyer who also acquired other paintings, two by Monet, one by Sisley, one by Signac and a sculpture by Rodin for a total of US $ 24,5 million.
La Meule was sold in June 1987 in Bayeux, Normandy, for half the price it fetched in New York and had remained unsold in a Christie's sale in 1990. It had first been acquired by the Nahmad brothers both active as dealers in New York and in London.
Monet's Waterloo Bridge painted between 1899 and 1901 fetched US $ 9,3 million against an estimate of US $ 4 to 6 million. Sold for a mere US $ 282,000 in March 1985 at Sotheby's it went to the same buyer of La Meule who also acquired Monet's Cabane des douaniers, effets du matin of 1882 for US $ 1,8 million. It had been sold by Christie's in 1987 for US $ 650,000.
Christie's however did not fare too well with Monet's view of his Japanese bridge in his garden of Giverny, a painting which was sold US $ 5,9 million (inclusive of buyer premium) well under an estimate of US $ 7 to 10 million.
In fact, this work had little to do regarding quality with Monet's Bassin aux Nymphéas et sentier au bord de l'eau sold by Sotheby's in June 1998 for a record US $ 33,33 million in London.
The Christie's painting already appeared twice at auction. In December 1984 it went for US $ 960,000 at Sotheby's, London and in May 1987, again at Sotheby's but in New York for US $ 2,6 million. Christie's got over their disappointment thanks to Signac's Vue de la Salis à Antibes, which fetched US $ 5,2 million against an estimate of 3,5 to 4 million while Monet's La Seine près de Giverny went for US $ 2,2 million against an estimate of US $ 1 to 1,5 million.
Other paintings of average quality by Monet were unsold such as Cathédrale de Rouen, which carried an estimate of US $ 1 to 1,5 million at Sotheby's or Charing Cross Bridge, which only reached US $ 2,6 million compared with an estimate of US $ 5 to 7 million. Monet's works of the 1890's seem to remain much in demand compared to those produced after 1900.
Home
