A Monet painting of water lilies on Tuesday fetched 80.5 million U.S. dollars, almost twice as much as the previous record for a Monet masterpiece.
"Le Bassin aux Nympheas" had been expected to bring 35.4 million dollars to 47.3 million dollars, but after an intense bidding battle it smashed the previous Monet auction record of 41.5 million dollars established in May.
It was part of the evening sale of impressionist and modern art at Christie's which raised 284 million dollars, the highest total for an auction in Europe. All figures include buyers' premiums.
Olivier Camu, head of impressionist and modern art at Christie's in London, said the sale "illustrates the continuing strength and confidence of the art market."
Some experts have predicted a correction or even collapse in values due to deepening economic gloom caused by falling stocks, rising oil prices and the mortgage meltdown.
Christie's, its main rival Sotheby's and other London auction houses hold a series of sales of modern and contemporary art over the next 10 days during which works worth more than $1 billion will go under the hammer.
Source: Xinhua
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