Christie’s in Record London Sale, Misses Target and Monet Water-Lily Painting Fails to Sell

LONDON.- Christie’s held London’s biggest ever art auction on Wednesday when its impressionist and modern sale fetched 153 million pounds ($227 million), but the total fell short of expectations of 164-231 million pounds. The big disappointment on the night came when a Monet water-lily painting worth an estimated 30-40 million pounds failed to sell. Bidding reached 29 million pounds. The other top lot did change hands, however, with a Blue Period portrait by Picasso selling for 34.8 million pounds. The price includes a buyer’s premium. Composer Andrew Lloyd Webber, whose charity sold the painting, said he was pleased with the price, “especially in such austere times. “This is a significant amount to devote to the Foundation’s passions — architecture and the sponsorship of young talent in musical theatre.” Overall, the auction total of 153 million pounds eclipsed the previous London auction record of 147 million pounds set by

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