Claude Monet’s “Le Palais Contarini,” dating from 1908, was sold Wednesday night at Sotheby’s in London for just over $30 million, contributing to a bumper night for the Impressionist and modern art market.
In total, $165 million worth of art was sold, beating the Christies International’s total of $99 million from the night before.
According to a Bloomberg report, the Monet attracted four telephone bidders, in addition to a fixed bid from a third-party guarantor. The French master's painting was purchased by the Nahmad family for $4.2 million in 1996 and was expected to draw in the region of $21 million to $30 million.
The beginning of the evening started with a flurry of Picassos that were owned by the late Swiss businessman Branco Weiss. The pick of the 28-piece lot was the 1971 “Etreinte,” that, after triggering a bidding war, sold for $4.5 million. The lot raised more than $20 million in total that will be donated to medical research.
Despite the evening’s successes, Picasso’s self-portrait “Le Peintre,” estimated at $7.5 million to $10 million, failed to sell. It was bought in London for 3.3 million pounds in 2007.
Born and allegedly conceived by candlelight in 1984, Christopher was raised in Edinburgh, Scotland. After four years in the British Royal Navy, he decided to leave the sea...