A portrait by Pierre Augusta Renoir was sold on Tuesday (27 March) to an anonymous Japanese buyer for GBP 157,500 (US $360,000) at the sale of Impressionist paintings at Christie's auction rooms in London.
GV & CU SIGN EXT Christie's (2 shots)
SV INT Japanese in crowd.
GV's and CU Bidding in progress for a Monet. (4 shots)
CU & MV's Bidding for Renoir. (8 shots)
GV's and CU's Bidding for Monet. (No.57) (6 shots)
Initials RW/VS 1.28 RW/VS 1.39
Script is copyright Reuters Limited. All rights reserved
Background: A portrait by Pierre Augusta Renoir was sold on Tuesday (27 March) to an anonymous Japanese buyer for GBP 157,500 (US $360,000) at the sale of Impressionist paintings at Christie's auction rooms in London.
The Renoir was among 16 paintings sold to Japanese buyers for a total price of GBP 571,200 - nearly half the GBP 1,231,178 taken at the sale.
Many of the paintings were part of a United States collection owned by the late Howard Young. Christie's saleroom were packed to capacity and some buyers bid from an ante-room with the use of closed circuit television.
SYNOPSIS: Christie's saleroom in London were packed to capacity on Tuesday for a sale of Impressionist paintings. Most of the major buyers were Japanese.
Japanese buying accounted for nearly half the massive one-and-a-quarter-million ponds which changed hands at the sale. Most of the spectators were Japanese, and a Japanese film crew covered the sale for Japanese television. This painting by Monet fetched 68-thousand pounds.
Most of the activity surrounded the bidding for this portrait by Pierre Augusta Renoir. It was ultimately sold to an anonymous Japanese buyer for a massive GBP 157,500. The same Japanese buyer paid a record GBP 84-thousand for Pierre Bonnard's Femme a la Nature Morte.
One dealer from Tokyo explained the Japanese interest by saying that many people in Japan had more money, and that they looked on paintings as an investment. However, Claude Monet's 'Antibes' went to a London dealer. He paid a record 99-thousand pounds for it.