$35 million Monet painting to headline inaugural sale at Christie’s Hong Kong headquarters. https://ift.tt/1w3QsXJ

Christie’s Hong Kong will auction Claude Monet’s Nymphéas (1897–99) for the first time ever during the inaugural 20th/21st century evening sale at the new Asia-Pacific headquarters on September 26th. The painting is estimated to fetch between HK$200 million and HK$280 million ($25 million and $35 million), making it one of the most valuable works by a Western artist to hit the auction block in Asia.

“As one of the few remaining rare works from Monet’s pioneering first ‘Water Lilies’ series that is still in a private collection, with the rest residing in museums across the world, this painting is a true singular treasure,” said Cristian Albu, deputy chairman and head of 20th/21st century art at Christie’s Asia Pacific. “Through our unparalleled global expertise, we are privileged to present this seminal painting to our discerning collectors in Asia, catering to the surging demands for iconic Western artworks of the highest caliber.”

Nymphéas is one of the earliest iterations of Monet’s acclaimed “Water Lily” paintings, famously capturing the water-lily pond at his Giverny home. After Monet’s death in 1926, this work remained in the artist’s family for decades before eventually being acquired by another private collection, according to the auction house. Now, the painting will make its auction debut for the first time in the 125 years since it was created.

This auction event follows a number of works by the artist to come to auction in recent months. The artist’s Meules à Giverny (1893) fetched nearly $35 million at a Sotheby's modern evening auction in May.

The most expensive artwork by a Western artist sold in Asia is Jean-Michel Basquiat’s Warrior (1982), which sold for HK$323.6 million ($41.7 million) at Christie’s Hong Kong in 2021.

Ahead of this high-profile sale, Christie’s will inaugurate its new 50,000-square-foot regional headquarters in Hong Kong. The new space spans the 6th to 9th floors of a new office tower in Central Hong Kong, The Henderson. Designed to accommodate a variety of functions, from exhibitions and private sales to educational programs, the headquarters will open to the public on September 20th.

from Artsy News https://ift.tt/aWpwt65