Monet water lilies …27MILLION

Wow, a mere 27 Million…

monet Photograph: Adam Hunger/Reuters

Reuters in New York, Wednesday 7 May 2014 15.18 BST

“The spring art auctions got off to a solid start on Tuesday as Christie’s sold $286m worth of Impressionist and modern art, its best New York result in the category in four years.

Led by Monet’s Nymphaes, one of the artist’s seminal water lilies paintings which sold for $27m, the auction saw 89% of the 53 works on offer finding buyers and beat its low estimate total of about $245m.

While works at all levels sold well, bidding was measured and the salesroom atmosphere somewhat muted, with most of the top lots selling for below the pre-sale estimates.

Like the Monet, Picasso’s Portrait de femme (Dora Maar), the evening’s second-highest priced work, fell short of expectations, fetching $22,565,000 including commission.

Christie’s had estimated both works to sell for $25m to $35m. Estimates do not include commission…

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