PARIS: Nearly a century after his death, Claude Monet continues to captivate the art market, his paintings often fetching staggering sums at auction. Christie’s no doubt hopes that “La Mare, effet de neige” will be no exception when it goes under the hammer in New York in May.

During his 60-year career, Monet produced over 2,000 paintings, some of which are still in private ownership. “La Mare, effet de neige” is one such artwork.

The Impressionist artist created this painting during the winter of 1874-1875 in Argenteuil, outside of Paris. It shows a snowy landscape in blue and white tones, contrasted by a trio of silhouettes crossing the scene.

For Anika Guntrum, international director of 20th and 21st century art at Christie’s, this painting “is undeniably one of the masterpieces of the Impressionist movement.”

“The spontaneity and the freedom of execution seen in the rendering of light and atmosphere is a veritable tour de force.

“The blanket of white snow, melting along the edge of the pond is a genius pretext for the artist to reveal, by touches of silvery blue and rose tones, a hint of springtime to come,” she said in a statement.

“La Mare, effet de neige” has rarely appeared in public sales. It was sold a few months after its completion at an auction at the Hôtel Drouot in Paris that Monet had organised with some of his Impressionist friends. During this event, the art dealer Paul Durand-Ruel bought “La Mare, effet de neige” and kept it in his possession until at least 1879.

Over the next four decades, it passed through the hands of several European collectors before Richard Semmel acquired it in the early 1930s.

Targeted by the Nazis, the Jewish businessman was forced to leave Berlin and sell some of the works in his collection to support himself, including the Monet painting.

It ended up in a French private collection, where it has remained for the past seven decades.

Monet vs Picasso

This prestigious provenance explains, in part, why Christie’s estimates that “La Mare, effet de neige” could sell for between US$18 and US$25 million.

Still, that’s a far cry from the US$110.7 million that a painting from the artist’s “Meules” (“Haystacks”) series sold for in 2019 at Sotheby’s in New York.

This set a new auction record for the Impressionist painter, with a sum that figures among the top 10 highest prices ever achieved at auction.

“La Mare, effet de neige” will be auctioned on May 12, during Christie’s upcoming New York evening sale of 20th century art. On this occasion, collectors will also be able to try to get their hands on “Tête de femme (Fernande),” the first cubist sculpture by Pablo Picasso, which could fetch over $30 million.

Before being auctioned in New York, “La Mare, effet de neige” will be exhibited in Hong Kong from April 20 to 21.