Record auction total of 460 million: Modigliani’s *Nude* and Monet’s *Water Lilies* sold
Sotheby’s in London has set a European record for sales in a single evening. Among the works purchased was a masterpiece of French Impressionism
Almost half a billion euros in a single auction session. This is the record set by Sotheby’s in London, which achieved the highest turnover ever recorded in a single session in Europe. The total amount raised was 393.4 million pounds (approximately 460 million euros), and among the works sold were a nude by Amedeo Modigliani for 48.2 million pounds (56.4 million euros), as well as Claude Monet’s ‘Water Lilies’, which sold for 40.8 million pounds (47.8 million euros).
Modigliani’s painting
The most expensive lot of the evening was “Nu assis au collier” (1917) by Amedeo Modigliani, which was hotly contested until it reached 48.2 million pounds (56.4 million euros). Sotheby’s did not disclose the buyer’s identity. Overall, the auction saw growing competition amongst global collectors, particularly those from Asia. The collection of British financier and entrepreneur Joe Lewis alone fetched 296 million pounds (346 million euros), setting a record for a single private collection sold in London.
Monet’s Water Lilies
Claude Monet’s masterpiece “Nymphéas” (1907) was the second most expensive, selling for 40.8 million pounds (approximately 48 million euros). This is the highest price achieved in Europe over the last ten years for a work by the Impressionist painter sold at auction. This result confirms the favourable market climate for Monet’s works, following the recent success of “Vétheuil, effet du matin”, which sold in Paris last April for 10.2 million euros. Painted during a crucial phase of his career, ‘Nymphéas’ belongs to the famous water-lily series painted between 1904 and 1909, a period in which Monet revolutionised landscape painting and anticipated trends that would profoundly influence 20th-century abstract art, also inspiring artists such as Mark Rothko.
Other works sold
Gustav Klimt also achieved excellent results, with his “Bildnis Gertrud Loew” (1902) fetching 36.2 million pounds (42.3 million euros), sold to an Asian collector. Lucian Freud fetched 29.3 million pounds (34.3 million euros), whilst Edgar Degas’s sculpture “Petite Danseuse de Quatorze Ans” sold for 25 million pounds (29.3 million euros). Other notable results included Pablo Picasso with “Buste de Femme” (23.8 million pounds, 27.9 million euros) and René Magritte with “La Belle Promenade”, which sold for over 16 million pounds (18.7 million euros), well above the initial estimates. Also significant was the result for Gustave Caillebotte’s “Portrait de Paul Hugot”, which sold for 10.2 million pounds (11.9 million euros) following a long series of international bids. According to Sotheby’s, over 70 per cent of the works exceeded their upper estimates, confirming a highly selective yet extremely competitive market. However, not all the masterpieces found buyers. Monet’s “Camille assise sur la plage à Trouville”, a rare portrait of the artist’s first wife and the only example still in private hands, remained unsold despite strong initial interest.
