Many people know Claude Monet’s famous painting of the water lilies. He was the founder of the French Impressionistic movement and considered by some to be one of the most talented artists of this style. His works have been featured in museums all over the world including Paris, New York, Moscow, London, and Chicago. Generally his paintings depict nature scenes, but he also worked on cityscapes and people. Recently one of his most famous paintings, a water lily scene, sold in a New York auction for 43.7 million dollars.
While this may seem like a staggering amount to most, it does not even come close to the most expensive art piece ever sold at an auction. The record holder is Munch’s The Scream which sold for an astonishing $120 million. It is closely followed by Picasso’s Nude, Green Leaves and Bust which sold for $106 million.
While these numbers make it seem like the art auction business may be doing well, some experts disagree. Reports from the auction state that 30% of the paintings failed to be sold at all. Some of the unsold works include pieces from famous artists such as Degas and Picasso. Some experts are concerned that there is too much of a price difference in some of the most famous and desired works and the equally amazing, but less appreciated, work from newer or less famous artists.
Despite the flocculating prices of artwork, the auction houses and museums are still holding events. They are confident that the rest of the work will be sold and that the prices of art are going to level out. Christie’s and Sotheby’s are going to hold a contemporary art auction within the next week. The even had to be pushed back because of Superstorm Sandy. The head of the auction houses are confident that they will get good sales.