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Monet water lilies painting gets more than $50 million at auction

Tuesday, Jun 24, 2014 - 01:15

A painting from Claude Monet's ''Nympheas'' (''Water Lilies'') series, sells for £31,722,500 (more than $50 million) at a Sotheby's auction in London. Tara Cleary reports.

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A painting from Claude Monet's "Nympheas" or "Water Lilies" series is sold at Sotheby's in London for more than 31 million British pounds - that's over $50 million U.S. dollars. And it's the second time this year that a painting by the French impressionist has done well at auction -- another work from the "Nympheas" series sold for $27 million U.S. dollars at a Christie's auction in New York. These recent successes were sparked by keen interest from Asia, says Sotheby's senior director for Impressionist and Modern Art, Philip Hook. SOUNDBITE: Philip Hook, Sotheby's senior director of Impressionist and Modern Art, saying (English): "I think that the future is very bright for the market as more and more new buyers from the emerging markets take part in the sales. Every sale we notice more." And as testimony to the increased bidding competition, all but four of the 46 lots were sold. They included two additional Monets, a work by Pablo Picasso and Piet Mondrian's "Composition With Red, Blue and Grey", which fetched around $25 million U.S. dollars.

Monet water lilies painting gets more than $50 million at auction

Tuesday, Jun 24, 2014 - 01:15

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