Over 100 years after its creation, one of Claude Monet’s earliest water lily paintings will make its debut appearance at auction. The $35 million Monet will lead Christie’s inaugural evening sale of 20th- and 21st-century art at its new Hong Kong headquarters on September 26.
The Auction Debut of Monet’s Nymphéas
The French Impressionist artist Claude Monet frequently painted the water lily pond at his home in Giverny, France. Nymphéas (1897-99) was among the first paintings Monet made in the now famous series. This particular rendition remained in Monet’s family for several years after the artist died in 1926. A private collection recently consigned Nymphéas to Christie’s. The painting will make its first-ever auction appearance on September 26 at Christie’s new regional headquarters in Hong Kong. It is estimated to fetch between $25 and $35 million (HK$200m and HK$280m), making it one of the most expensive Western artworks ever auctioned in the Asia Pacific region.
“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, in a statement. “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.”
Christie’s New Hong Kong Headquarters
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Sign up to our Free Weekly NewsletterAhead of the inaugural September sales, Christie’s is set to open its new Asia Pacific headquarters on September 20. The auction house’s saleroom, offices, galleries, and client hub span the 6th to 9th floors of The Henderson, a new office tower in Central Hong Kong designed by Zaha Hadid Architects. The state-of-the-art building boasts high-tech and sustainable design features that will facilitate “museum-quality exhibitions, exclusive client engagements, private sales, and educational programs,” said Christie’s in a statement. The galleries were specially designed with high ceilings and a pillarless floor plan to accommodate a limitless range of art and luxury objects.
Auction Houses Are Expanding in Asia
Christie’s is not the only auction house expanding its market presence in the Asia Pacific region. Sotheby’s and Bonhams are also opening flagship locations in Hong Kong this year. Phillips already opened its own Hong Kong outpost last year. In a recent press release, Christie’s said, “The transformational relocation of Christie’s Asia Pacific headquarters to The Henderson comes in response to Asia’s global market demand, affirming Christie’s leadership in and commitment to the region.” The market for Western art in Asia has indeed been growing in recent years, with Impressionist art appearing at auctions with increasing frequency.
