Sotheby’s Paris Sale Led by Monet Works Reaches €35 Million as Bidding Strengthens
Two paintings by Claude Monet (1840–1926) propelled Sotheby’s Paris modern and contemporary art sale to €35 million ($41 million) on Thursday, a result that landed more than 84 percent above the equivalent sale last year and ahead of the house’s pre-sale estimate of €22.4 million to €32.1 million. Sotheby’s said the total was its second-highest ever in France for a sale in the category.
The auction’s strongest signal came from the market’s appetite for rare Impressionist works with long gaps in public view. Monet’s Vétheuil, effet du matin (1901) sold for €10.2 million ($12.1 million), setting the highest auction price for a work by the artist in France. The canvas had not been seen publicly for about 98 years and had remained in the same French private collection for more than five decades. After 10 minutes of bidding, it moved beyond its €6 million to €8 million estimate.
Monet’s Les Îles de Port-Villez (1883) followed at €6.5 million ($7.6 million). Measuring just under three feet wide, the painting had been shown publicly for the first time in 115 years and also outpaced its €3 million to €5 million estimate.
The sale was not driven by Monet alone. Nearly 63 percent of lots sold above their high estimates, and 66 percent were making their auction debut. Among the other standouts, seven original gouaches from Marc Chagall’s “Circus” series, consigned directly from the artist’s estate, drew strong interest, with two selling for €1.1 million ($1.4 million) each. Lucio Fontana’s Concetto Spaziale, Attese (1968) brought €2 million ($2.4 million), while Rembrandt Bugatti’s Tigre royal reached €1.7 million ($1.9 million). Chu Teh-Chun’s Le son des cuivres II (1988) doubled its high estimate to €1.2 million ($1.4 million), and Gerhard Richter’s Untitled (9. Nov. 1995) sold for €473,600 ($558,659), nearly four times its high estimate.
Thomas Bompard, Sotheby’s Paris co-head of modern and contemporary art, called the result “a defining moment” for the house and for Paris, citing the “electric atmosphere” and “spirited bidding” in a packed saleroom. The numbers suggest that, at least for now, collectors are still willing to compete aggressively for rare works with strong provenance and a clear place in art history.
