Monet Painting Fetches Record Price at New York Auction

Monet Painting Fetches Record Price at New York Auction

A Claude Monet painting was sold at a record price, $110.7 million, at an auction held in New York on Tuesday. It is the highest price that a Monet masterpiece fetches.

The painting, which is part of the Impressionist painter's “Meules” (Haystacks) series, was initially bought by an anonymous collector in 1986 at a Christie's auction for just $2.5 million.

"We feel -- and I think people when they stand in front of this would largely agree -- that this is an even nicer example" than the one sold in 2016, Sotheby's Julian Dawes told AFP.

"It's enchanting. You just can't look away,” he said.

The anonymous collector who brought the painting to be auctioned had purchased it in 1986 at Christie's for just $2.5 million.

"This could be a defining moment for Monet's market," Dawes said.

"Something that I really like about impressionism in general is that the market tends to be really consistent. People love impressionism," he added.

"It doesn't change from generation to generation. These paintings are 150 years old and they've always been beloved."