A large Claude Monet painting of flowers from his Giverny water garden sold for 50 million euros (about $56 million) at Sotheby's in Paris on Thursday. After a 42-minute bidding tussle between at least six would-be buyers on telephones, the painting, titled "Iris," was bought by an Asian client bidding by phone with Jen Hua, deputy chairman of Sotheby's Asia.
"I've never seen bidding that long," said Helly Nahmad, a London dealer who specializes in modern art. "It was insane," he added, "but these things are mega-rare." The world record for a Monet painting is $110.7 million, set in 2019 at Sotheby's with the sale of the 1890 painting "Meules," or "Grainstacks." (The price would be $145.7 million today, adjusted for inflation.)
"Iris," which is about 5 feet tall and nearly 6 feet wide, depicts flowers swaying above skies reflected in Monet's famous lily pond. Experts think the canvas was painted in the open air in 1924-25, toward the end of the artist's life. It had been estimated to sell for between €20 million to €30 million. Until recently, owners of high-value artworks routinely consigned their trophies to auctions in either New York or London. But since Brexit has made Britain a less attractive destination for art sales, European collectors have been more willing to sell in Paris.
The Schlumberger collection raised €74.4 million, or about $83.5 million.
Source: New York Times Business · Summarized by HeadlinesBriefing