Monet means money as Sotheby's London auction sets record

Monet Masterpieces Go on Sale at Sotheby's London
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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