Monet means money as Sotheby's London auction sets record

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Monet Masterpieces Go on Sale at Sotheby's London


LONDON (AP) - A Venetian waterscape by Claude Monet has sold for more than $35 million as the high-end art market shows resilience in a bumpy global economy.

"Le Grand Canal," fetched 23.67 million pounds ($35.6 million) at Sotheby's, though it didn't reach the top of its pre-sale estimate of 20 million pounds to 30 million pounds.

Monet's "Poplars at Giverny," sold by New York's Museum of Modern Art, fetched 10.79 million pounds ($16.2 million).

Tuesday's Impressionist, Modern and Surrealist sale raised 186.44 million pounds ($280 million), the highest-ever total for a single sale in London.

Sotheby's said bidders came from 35 countries. Wealthy collectors from Russia, China and the Middle East have helped buoy prices amid the aftermath of the global financial crisis.

Sotheby's rival, Christies, holds its own banner sale Wednesday.

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Monet means money as Sotheby's London auction sets record
Sotheby's staff pose for a picture with 'Le Grand Canal' by Claude Monet, during a preview of their upcoming Impressionist and Modern, Surrealist and Contemporary Art sale, at the auction house in London, England, Wednesday, Jan. 28, 2015. The collection of paintings and sculptures, with an estimated total value of 233 million pounds ($354 million), is due to go under the hammer on Feb. 3 and Feb. 10. (AP Photo/Tim Ireland)
Sotheby's staff pose for a picture with 'Le Grand Canal' by Claude Monet, during a preview of their upcoming Impressionist and Modern, Surrealist and Contemporary Art sale, at the auction house in London, England, Wednesday, Jan. 28, 2015. The collection of paintings and sculptures, with an estimated total value of 233 million pounds ($354 million), is due to go under the hammer on Feb. 3 and Feb. 10. (AP Photo/Tim Ireland)
A girl poses for a picture with 'Les Peupliers a Giverny' by Claude Monet during a preview of the upcoming Impressionist and Modern, Surrealist and Contemporary Art sale, at Sotheby's auction house in London, England, Wednesday, Jan. 28, 2015. The collection of paintings and sculptures, with an estimated total value of 233 million pounds ($354 million), is due to go under the hammer on Feb. 3 and Feb. 10. (AP Photo/Tim Ireland)
A girl takes a photograph of 'Les Peupliers a Giverny', by Claude Monet during a press preview in London on January 28, 2015, ahead of the Impressionist & Modern Art Evening Sale on February 3, 2015. 'Les Peupliers a Giverny' has an estimated value of £ 9-12 million GBP (12,000,000-16,000,000 Euros, $ 13,700,000-18,200,000 USD). AFP PHOTO / JUSTIN TALLIS -- RESTRICTED TO EDITORIAL USE, MANDATORY MENTION OF THE ARTIST UPON PUBLICATION, TO ILLUSTRATE THE EVENT AS SPECIFIED IN THE CAPTION -- (Photo credit should read JUSTIN TALLIS/AFP/Getty Images)
Employees of Sotherby's auction house position 'Le Grand Canal', by Claude Monet during a press preview in London on January 28, 2015, ahead of the Impressionist & Modern Art Evening Sale on February 3, 2015. 'Le Grand Canal' has an estimated value of £ 20-39 million GBP (26,800,000-52,200,000 Euros, $ 30,500,000-59,300,000 USD). AFP PHOTO / JUSTIN TALLIS -- RESTRICTED TO EDITORIAL USE, MANDATORY MENTION OF THE ARTIST UPON PUBLICATION, TO ILLUSTRATE THE EVENT AS SPECIFIED IN THE CAPTION -- (Photo credit should read JUSTIN TALLIS/AFP/Getty Images)
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