30 déc. 2007

Art auction : valueing a Monet painting on Paris market place

I announced in a previous tracking a Monet painting that belonged to Van Dongen. It now just arrived on an advertisement in the Gazette de l'Hotel Drouot No. 45 page 43. It will be sold on March 15 by EVE (Alain Leroy) at Drouot-Montaigne. According to the Press release of Drouot that I picked up on December 12, these Varengeville Pines are estimated at 400 to 500 K €. This medium-sized canvas (65x81cm) was painted in 1882, when Monet was 42 years old.
Both sources currently available to me on this sale did not specify whether it figures in the Wildenstein catalogue.

Compare with other Monet paintings recently sold at auction: a Pins au Cap d'Antibes (1888, 73x92cm) made $ 6.3 million at Christie's on November 11, a Route de Monte Carlo (1883 / 4, 65x80cm) $ 4.7 million on November 6 also at Christie's. For similar style paintings, Monet's views of the Côte d'Azur and of the Seine valley come at higher prices than those of the Caux area, and the views of the coast higher than country and woods, but a path in the Petites-Dalles (1884, 66x82cm) went to $ 2.5 million at Sotheby's on Dec. 11, 2000, and another in Varengeville, with clearer horizont line (1882, 64x81cm), $ 2.2 million on May 10, 2000 at Sotheby's.

The price range announced should send this painting around the 300 th place among auction prices paid for Monet. In this environment there is a small-size wood scenery, less opened but with effects of sun and some character (1878, 55x45cm). Millon sold it on March 19 to 480 K €. There is nothing like this for years for such a low price in New York and London sales.

If the estimate published by Drouot Presse is right, why does this painting come in Paris? The best advice that we can give to the EVE auction house and to Perazzone-Brown specialist office is make proffit of the remaining ten weeks before the sale for an aggressive solicitation among foreign buyers.

(SOLD 510 K€ before fees)