MONET GOES FOR MORE THAN $35 MILLION

Feb 04, 2015

By Michael Kramer

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Monet Canal

A waterscape of Venice’s Grand Canal by impressionist master Claude Monet has sold for more than $35 million – showing the high-end art market has some resilience in a rocky  global economy.

“Le Grand Canal,” went for $35.6 million at Sotheby’s – and that didn’t even reach the top of its pre-sale estimate.

Monet’s “Poplars at Giverny,” – which was sold by New York’s Museum of Modern Art, brought in $16.2 million.

At $280 million, Tuesday’s Impressionist, Modern and Surrealist sale raised the  highest-ever total for a single sale in London.

There were bidders from 35 countries – with wealthy collectors from Russia, China and the Middle East helping to elevate prices.

Christies is due to hold its own banner sale on Wednesday.

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