Monet’s $ 20.4 Million Oil Painting Could Set New Western Art Auction Record in Mainland China | Auction news | THE VALUE

0


Five paintings by world-renowned masters will be featured in an upcoming auction in Beijing.

The masterpieces of Monet, Picasso, Pissarro and Cézanne will be sold to the first China Guardian Impressionist and modern art Evening sale on November 19.

In the Asian art market, the appetite for masterpieces of modern and contemporary Western art has proliferated in recent years in Hong Kong – setting record prices at auctions. This trend could gradually develop northward in mainland China.

In 2015, Monet Water lily pond, rose bushes wsold for US $ 20.4 million in New York. Its appearance in the upcoming Beijing auction could see a record-breaking sale of Western art in mainland China.

Claude Monet | Water lily pond, rosebushes, Oil on canvas

Created in 1913
73x100cm
Provenance (modified by the value):

  • Galerie Durand-Ruel, Paris (acquired from the artist on January 23, 1919)
  • Durand-Ruel Galleries, New York (acquired from him in 1919 and at least until 1949)
  • Private collection, Switzerland (acquired about 1970)
  • Baron Chollet, Switzerland (by descent from above)
  • Thomas Gibson, London (possibly on consignment)
  • Acquired from it by the current owner on March 12, 1991
  • Sotheby’s New York, Impressionism and Modern Art Evening Sale (May 5, 2015), Lot 47, sold for US $ 20.4 million
  • Private collection (acquired from the above sale)

Quote on request

NB: This article is held under the status of surety

Importance

China Guardian held the Exhibition promoting the impressionist masters during the spring season of this year, and presented western paintings to collectors. Most of the paintings in the exhibition have not been auctioned. German abstract artist Richter’s Columns painting (1968) was sold for 12.5 million US dollars, which set a record for Western art in mainland China.

This Water lily pond, rosebushes The painting was auctioned at Sotheby’s New York in 2015. It was sold for US $ 20.4 million with a buyer’s premium.

Although China Guardian has not announced the estimate for Monet’s water lily painting, its estimate is expected to be similar to its sale in 2015. This means that if the painting is sold, an auction record for Western art in mainland China can be achieved.

Richter’s Columns (1968) is the current record holder for western art sold in mainland China

Monet bottom left section Water lily pond, rosebushes The painting

Monet central section Water lily pond, rosebushes The painting

Iconography

Monet’s painting of water lilies was created in 1913, and represents the artist at the height of his mature style.

He represented his gardens in Giverny, north-west of Paris. It was one of the artist’s most personal and famous subjects. It was also one of three canvases that Monet painted from this particular vantage point, which overlooks an arched trellis covered with red and pink roses reflecting in the water.

Another work from this tripartite series, Les Arceaux Fleuris, Giverny, is part of the permanent collection of the Phoenix Art Museum, Arizona. Thanks to Monet’s energetic but intimate representation of flora, water, sky and light, one is immersed in this landscape, filled with a sense of tranquility on a summer day in the north of the France.

Monet was inspired by his Giverny gardens during his later years

View of the gardens of Giverny

Monet Les Arceaux Fleuris, Giverny is part of the collection of the Phoenix Art Museum


Claude Monet | The Staircase, Oil on canvas

Established in 1878
61x50cm
Origin:

  • Catholina Lambert, Paterson, New Jersey
  • Durand-Ruel Galleries, New York (acquired from the above, May 16, 1895 and until 1949)
  • Private collection, Switzerland (around 1959); sale, Christie’s, London, November 28, 1994, Lot 8
  • Edgar M. Bronfman, New York (acquired in the above sale)
  • Christie’s New York, Impressionism and Modern Art Evening Sale (May 6, 2014), Lot 19, sold for US $ 3.5 million
  • Private collection (acquired from the above sale)

Estimate: $ 3,880,000 – $ 5,430,000

NB: This article is held under the status of surety

Importance

In 2014, The Staircase was sold at Christie’s New York. His estimate was $ 1.5-2.5 million, and was sold for $ 3.5 million.

In this upcoming evening sale organized by China Guardian, the low estimate is $ 3.8 million. It’s essentially the same cost when it was sold in New York City seven years ago, which is perhaps a strategy to attract more mainland collectors to buy Impressionist and Modern art.

Iconography

Monet painted The Staircase during the very first months he spent in Vétheuil, north-west of Paris. He and his family lived from August 1878 to December 1881. It was a defining moment of personal and professional transformation for the artist.

After moving to Vétheuil, Monet completely abandoned the modern urban scenes that dominated his early paintings. Instead, he began to focus on capturing aspects of nature and used a new technique that laid the foundation for his later important production.


Pablo Picasso | Head of a Woman with a Hat, Oil on canvas

Established in 1965
60x50cm
Origin:

  • Galerie Louise Leiris (Daniel-Henry Kahnweiler), Paris
  • Kootz Gallery, New York
  • Spanierman Gallery, LLC, New York
  • Acquired by the previous owner on February 17, 2004
  • Christie’s New York Evening Sale, Impressionism and Modern Art (November 5, 2013), Lot 34
  • Private collection (acquired from the above sale)

Estimate: $ 3,100,000 – $ 4,650,000

NB: This article is held under the status of surety

Earlier in October, Picasso Crouching woman (1954) the painting fetched US $ 24.6 million at Sotheby’s Hong Kong. It became the highest price ever for a work of art by Picasso in Asia.

In this upcoming sale in Beijing, Picasso Head of a Woman in a Hat also has the same protagonist. The two paintings represent Jacqueline Roque, last lover and wife of Picasso. Jacqueline has become the most frequent and oldest subject of Picasso’s career, appearing in over 400 portraits surpassing her husband’s previous lovers like Françoise Gilot and Marie-Thérèse Walter.

Picasso’s fascination with female headgear dates back to the 1930s, when he saw them as a representation of a woman’s inner thoughts. In Head of a Woman in a Hat, the golden hat stands out against a bright blue background. The wide, soft brim blocks the summer heat and casts a shadow over Jacqueline’s face, implying a moment of relaxation and joy in the south of France.

that of Picasso Crouching woman (1954) was the highest price ever for a work by Picasso in Asia

Pablo and Jacqueline


Camille Pissarro | Le Lavoir de Bazincourt, Oil on canvas

Established in 1884
65x54cm
Origin:

  • Galerie Durand-Ruel et Cie., Paris (acquired from the artist on October 31, 1884)
  • Frédéric Mallet, Paris (acquired from the above on January 25, 1919)
  • Galerie Georges Petit Paris (May 20, 1920, lot 103) Galerie Bernheim-Jeune et Cie., Paris (around December 1927)
  • George Boner, Paris (around 1938)
  • Yvonne Boveri-Boner, Switzerland (acquired by descent)
  • Private collection, United States (acquired by descent)
  • Christie’s New York, Impressionism and Modern Art Evening Sale (May 6, 2014), Lot 54, sold for US $ 2.51 million
  • Private collection (acquired from the above sale)

Estimate: 2,800,000 to 4,350,000 USD

NB: This article is held under the status of surety


Paul Cézanne | Portrait, Oil on canvas

Created in 1866-1867
65x54cm
Origin:

  • Ambroise Vollard, Paris
  • Bernheim-Jeune Gallery, Paris
  • Auguste Pellerin, Paris, which acquired from him on December 6, 1910
  • Jean-Victor Pellerin, Paris, by descent from above
  • Acquired from it by the current owner
  • Christie’s London, Impressionism and Modern Art Evening Sale (February 2, 2016), Lot 46, Sold for around US $ 1.6 million
  • Private collection (acquired from the above sale)

Estimate: $ 1,700,000 to $ 2,800,000

NB: This article is held under the status of surety


Auction Details:

Auction House: China Guardian Beijing

Sale: Evening sale of impressionist and modern art

Location: Guardian Art Center, Wangfujing Street, Dongcheng District, Beijing

Date and time: November 19, 2021 | 8 p.m. (Beijing local time)

Number of lots: 5


Share.

About Author

Leave A Reply