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Extreme rarity in the art market can have perverse effects, as was demonstrated this week at the Impressionist and Modern art sales held at Christie's and Sotheby's.
One consequence is that it reduces the possibilities of comparison, thus sapping the foundations of aesthetic assessment. As a result, gigantic prices are paid for works by famous artists that would not have induced auction house marketing teams to pour unrestrained praise over them a couple of decades ago.
Of the three most expensive works sold in Christie's Tuesday evening session, only one, Monet's close-up view of waterlilies floating on the pond of his garden at Giverny, painted in 1919, justified the excitement that it created, leading to a world auction record for the artist set at £40.92 million, or about $80.45 million.
"Le bassin avec nymphéas" is one of about 30 large-size views painted between 1903 and 1926, the year of the Impressionist master's death. Leaving out some half-finished canvases, hardly any "Nymphéas" of this calibre remain in private hands - and none with Monet's signature, which adorns Christie's picture.
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One consequence is that it reduces the possibilities of comparison, thus sapping the foundations of aesthetic assessment. As a result, gigantic prices are paid for works by famous artists that would not have induced auction house marketing teams to pour unrestrained praise over them a couple of decades ago.
Of the three most expensive works sold in Christie's Tuesday evening session, only one, Monet's close-up view of waterlilies floating on the pond of his garden at Giverny, painted in 1919, justified the excitement that it created, leading to a world auction record for the artist set at £40.92 million, or about $80.45 million.
"Le bassin avec nymphéas" is one of about 30 large-size views painted between 1903 and 1926, the year of the Impressionist master's death. Leaving out some half-finished canvases, hardly any "Nymphéas" of this calibre remain in private hands - and none with Monet's signature, which adorns Christie's picture.
Discuss Add this link to... Bury
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