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The rise of 'conspicuous waiting': The 19th-century economic theory that explains why Gen Z posts their place in line

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The rise of 'conspicuous waiting': The 19th-century economic theory that explains why Gen Z posts their place in line

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Millennials say they’ll refuse to care for aging boomer parents—but they’ll be forced to as their inheritance shrinks to 40 cents on the dollar

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'Retiring backwards': How cold economic reality forced Gen X into something like the reverse of baby boomers' golden years
art

Monet’s Water Lilies fetch $54 million at Sotheby’s

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Tom Huddleston Jr.
Tom Huddleston Jr.
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By
Tom Huddleston Jr.
Tom Huddleston Jr.
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June 23, 2014, 6:17 PM ET
NEW YORK - NOVEMBER 15: A man holds his hand up while bidding on a work of art inside the auction house Christie's during the Post-War and contemporary Art sale November 15, 2006 in New York City. Christie's estimates that works by Warhol, Willem de Kooning, Roy Lichtenstein and others could go for up to $220 million in what the auction house says may be the most valuable post-World War II and contemporary art auction in history. Warhol's "Mao" portrait from 1972 went for over 17 million, setting an all time record for the artist.  (Photo by Spencer Platt/Getty Images)
NEW YORK - NOVEMBER 15: A man holds his hand up while bidding on a work of art inside the auction house Christie's during the Post-War and contemporary Art sale November 15, 2006 in New York City. Christie's estimates that works by Warhol, Willem de Kooning, Roy Lichtenstein and others could go for up to $220 million in what the auction house says may be the most valuable post-World War II and contemporary art auction in history. Warhol's "Mao" portrait from 1972 went for over 17 million, setting an all time record for the artist. (Photo by Spencer Platt/Getty Images)Spencer Platt—Getty Images
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Claude Monet was the star of a Sotheby’s auction of Impressionist and other modern art that pulled in more than $200 million for dozens of works Monday in London.

Monet’s iconic “Nymphéas,” part of a series of paintings featuring water lilies from the Impressionist master’s garden pond in Giverny, France, fetched roughly $54 million at the famed auction house’s evening sale. The 1906 painting, which had previously been estimated between $34 million and $51 million, was bought by an anonymous private collector. Another painting from Monet’s Nymphéas series, once owned by the late reclusive heiress Huguette Clark, sold for $27 million last month in New York. (Another rare water lilies painting sold for $80.4 million, a record for Monet’s works, in 2008).

Sotheby’s also auctioned off a work by Dutch De Stijl artist Piet Mondrian on Monday. Called “Composition with Red, Blue and Grey,” the 1927 painting sold for $25.9 million. In total, the auction house sold 46 works by artists including Henri Matisse and Pablo Picasso.

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