Paris hosts the great Impressionist duel: two Christie’s–Sotheby’s auctions with Monet and Renoir, estimates up to €103 million

In October, Christie’s and Sotheby’s stage a rare face-off in Paris with Impressionist masterpieces. Christie’s (owned by François Pinault) brings “The Paul Durand-Ruel Collection: Generations of Vision” — 62 works estimated at €30–43 million, on auction October 22 and 23. Sotheby’s (owned by Patrick Drahi) answers with the Jeanne Schlumberger collection, “Time Regained” — 28 works estimated at €40–60 million, on auction October 22.

Paul Durand-Ruel was the legendary dealer who first recognized the Impressionists (mocked as such by the press of the time), the inventor of the modern gallerist’s role — talent scout, banker and psychological supporter of his artists; before everyone else he understood that his painters’ salvation was America, where he sold thousands of canvases. At Christie’s, the star is the 1882 Monet, “Bord des Falaises à Pourville” (Cliff Edge at Pourville), estimated at €11–15 million — a twin version of a canvas in the collection of New York’s Met, sold at Sotheby’s in 2014 for about $9 million. But the surprise is Auguste Renoir: “Jeunes Filles au Bord de la Mer” (Young Girls by the Sea), circa 1894, estimated at €4–6 million — according to Christie’s, “the most expensive Renoir ever offered at auction in France in 40 years.”

Sotheby’s counters with four late works by Monet, including a monumental canvas from the “Iris” series (1924–1925), estimated at €22–30 million: “the largest canvas of Monet’s last decade still in private hands,” in perfect condition — no repaints, no varnish layer. Jeanne Schlumberger had bought it from dealer Katia Granoff, who orchestrated the rediscovery of the late Monet at a time when these works were not yet valued as they are today.

Market context: the Monet market has risen steadily for a decade — a “Meules” (Haystacks) that 20 years ago cost $15–18 million now reaches $90–115 million; in private sales a late “Bassin aux Nymphéas” (Water Lilies) goes for $80–150 million. Renoir is experiencing a reputational revival after this year’s retrospective at the Musée d’Orsay; in May, “La Femme aux Lilas” from the Whitney collection reached $28.2 million at Christie’s. According to Christie’s, the day a work at the level of “Bal du Moulin de la Galette” reappears on the private market, the price will exceed €50 million.

Source: Le Monde