Impressionist and Modern Art auction at Christie’s Fine Art Auction House (London)

On 18th of June a sale of ‘Impressionist and Modern Art’ at Christie’s Art Auction House, London, reached a landmark total for value of art sold: £121,127,200/ $239,952,983 / €178,056,984, beating the all time total for an auction sale in Europe. I think the total is incredible & shows how strong the top end of the World’s art market remains & the demand for the French impressionist Claude Monet’s work. (see below)

Some interesting stats as well; buyers by country (by lot) were:
Europe (excluding UK) 56%, United Kingdom (UK) 22%, Americas 21%, Asia 1%.

‘Waterloo Bridge, temps couvert, 1904′ by Claude Monet:

‘Waterloo Bridge, temps couvert, 1904′ by Claude Monet (1840-1926) was the top lot of the evening was which sold for £17,940,000/ $35,539,140 / €26,497,380, the second highest price reached for a Monet in £ Sterling at an auction & the highest ever Dollar $ price.

The evening’s auctioneer Jussi Pylkkänen, who is also President of Christie’s Europe, stated:

“This evening’s sale at Christie’s was a landmark event in the history of the art market, realising the highest total for any auction ever held in Europe. The international art market congregated at Christie’s saleroom in London this evening as an ever increasing international group of collectors fought for the exceptional selection of works. The top work of the sale was bought by a private American collector, with 6 of the other top 10 works were won by private European collectors.

‘Les arceaux de roses, Giverny (Les arceaux fleuris), 1913’ by Claude Monet:

The above painting: ‘Les arceaux de roses, Giverny (Les arceaux fleuris)’ by Claude Monet was lot 11. Painted in 1913, this oil on canvas is 32 ¼’’ x 37’’ inches in size and was estimated at £9,000,000 – 12,000,000. In the end it sold for a staggering: £8,980,000/ $17,789,380/ €13,263,460.

Olivier Camu, International Director and Head of Impressionist and Modern Art at Christie’s, London stated:

“Today’s results reflect the continuing confidence and depth of the art market, with thirty works selling for over £1 million and forty-six works over $1 million. The results underlines Christie’s position as the world’s leading art business as we continue to present the best works of art and to invest in the new markets of Russia, Asia and the Middle East, as well as the traditional markets of Europe and North America. We look forward to tomorrow’s Impressionist & Modern Art Day Sales as well as to Wednesday’s Evening Sale of Post War & Contemporary Art.”

Further reading/images:

http://www.christies.com/features/jun07/7404/overview.asp
http://www.christies.com/features/jun07/7404/gallery/overview.asp

thank you

Russell