Monet, Impressionist Artist working in Argenteuil

[Pierre Tavlitzki]

Claude Monet arrived at Argenteuil in 1871. A quarter of an hour from Paris by train, this town of 8,000 people was at the border between the modernity of the city and the peaceful life of the country.

First, he is is listenig to progress: the train on Argenteuil bridge, that Christie's sold $ 41 million charge included on 6 May 2008, was made in 1873.

He then experimented with intimate outdoor scenes, symbolized by the oil on canvas entitled Dans la Prairie (In the meadows), 60 x 82 cm, that Christie's will sell on February 4 in London. Painted in 1876, it represents the artist's wife, Camille. She reads, surrounded by finely nuanced flowers, an umbrella behind her.

Despite the protests generated by the first two exhibitions of the Monet group in 1874 and 1876, his art had already champions, including Théodore Duret who bought our painting. In 1877, the tide is turning. The third exhibition, for which Duret lent his painting, is a success, and the group accepts the designation of Impressionists that had been given to them by some traditionalist art critics.

Talking price. Dans la Prairie has been sold twice by Sotheby's. In 1988, when the bubble began to swell, the artwork fetched 14.3 M£ (information provided in Christie's catalog). In 1999, under less favorable conditions, the hammer fell at 14 M$.

In 2009, the historic importance of this work suggests that it is resistant to the difficulties of the art market. Christie's hopes it in the region of £ 15 million.

[Pierre Tavlitzki]

Times are hard, but this historic Monet was sold respectably: £ 11.2 million including premium.

We have perhaps here a curious phenomenon. Until last year, lots with "estimate on request" were especially difficult to sell because of a high reserve price. This one was sold at a price significantly lower than the expected amount that Christie's said in its release.

The art of forecasting prices, which is part of the core business of auction houses (and not part of mine ...) is becoming increasingly difficult in this period of financial trouble.