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Christie's Auction House Sells Monet Painting for $81.4 Million
'Grainstack,' which had been only expected to sell for up to $45 million, set a new record price for the artist at auction (CCSS Level: Grade 6, Words: 207)
Nov 18, 2016 History

Claude Monet is known to millions as the French Impressionist painter most famous for his many paintings of waterlilies. On Wednesday a Monet painting sold, for a record price of US$81 million. After a 14-minute battle involving five bidders, four on the phone and one in the room, a new high was reached for a Monet when the artist's brilliantly colored painting named "Meule," or "Grainstack," was sold at Christie's in New York.

Many in the art world wondered if there was still confidence in the art market, but obviously at the top end there is still plenty of interest.

The previous record for a Monet was set eight years ago when "Le Bassin aux nymphéas," one of his famous series of water lilies, painted in 1919, was sold at Christie's in London in 2008 for 40.9 million pounds. In today's dollars that would be about $63.6 million.

Before the sale, the deep-red, sunset-colored painting was expected to sell for around $US45 million. It was last bought at another auction by a US buyer back in 1999, when it sold for $12 million. The painting helped bring the total of Christie's sale to $246.3 million. The same sale last year brought in US$145 million.

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in addition to



people who offer to pay a particular amount of money for something



believing in, or having faith in something or someone



something seen as likely to happen



well known



a painter of a 19th century art movement



having or including



to sell / an area of business, the place where things are sold



easily seen, clear



easily seen or recognized






the best or most ever measured    



having an uneven or irregular surface; not smooth or level



a number of things coming one after another