Monet-Le-Grand-Canalresize Claude Monet, Le Grand Canal (1908)

The sale will be held in London on 3rd February and will include the incredible lot which has been on loan to the National Gallery since 1997. The lot is from a private collection and is estimated to reach a whopping $30 - 45 million in the sale room.

Helena Newman, Sotheby's co-head of Impressionist and Modern Art worldwide, commented on how the timing of the Monet sale is a good fit for the current market.

''[Monet] has now reached an all-time point of strength, with bidders coming from four times as many countries as a decade ago."

The painting will leave Asia today where is has been on view in Taipei and Hong Kong. It will go on view in New York between 21st-23rd January before returning to London for the sale.

Monet painted the piece during the three months he spent in Venice in 1908, the year of one of Venice's first biennales, during a period considered a peak of his career.

Sotheby's noted how on 19th December, 1908, shortly before Monet returned to Paris, the gallery Bernheim-Jeune acquired 28 of his 37 paintings Venice's views. In 1911, Monet agreed to exhibit the works the following summer in a show entitled Claude Monet Venise.

This piece, Le Grand Canal, was in the possession of Hunt Henderson, a sugar magnate from New Orleans, one of the most prestigious art collectors of the American South in the first half of the 20th century.

The high profile lot will be subject to Sotheby's direct guarantee and a third-party guarantee, or the ''irrevocable bid'' which means a bidder outside of Sotheby's assumes risk in return for sharing in any potential upside if the lot performs well.

Check out Sotheby's lots here.

Comment