Impressionist masterpieces expected to make $450 million at sale

Category: Lifestyle/Entertainment

Listening

Unlocking Word Meanings

Read the following words/expressions found in today’s article.

  1. auction / ˈɔk ʃən / (v.) – to sell something to the person who offers the highest price
    Example:

    The local government is auctioning several public properties.


  2. lot / lɒt / (n.) – an individual item or group of items being offered for sale at an auction
    Example:

    Bidders competed for several lots featuring valuable antiques.


  3. contest / kənˈtɛst / (v.) – to compete against other people for something
    Example:

    The election was closely contested by the two main candidates.


  4. fetch / fɛtʃ / (v.) – to be sold for a particular amount of money
    Example:

    The painting fetched a surprisingly high price despite its small size.


  5. caliber / ˈkæl ə bər / (n.) – the level of quality, excellence, or ability of something or someone
    Example:

    The university attracts researchers of international caliber.


Article

Read the text below.

A rare art collection is due to go on sale in New York in November, with works by famous impressionists estimated to make $450 million.


Sotheby’s is auctioning the Blaquier-Arrieta private collection that includes works by Cezanne, Monet, Renoir, Van Gogh, and Pissarro.


Paul Cezanne’s “Arlequin” is one of the star lots in Sotheby’s upcoming sale of impressionist and post-impressionist painters.


It has not been seen in public since 1975 and is attracting a lot of attention in the art world.


“Arlequin” is one of the most hotly contested lots at Sotheby’s New York sale on 18 November, and is estimated to make in the region of $120 million.


It is one of only two harlequin paintings made by Cezanne—the other was a smaller work that fetched $8.2 million at auction back in 1988.


Helena Newman is the chairman of Sotheby’s Europe. She says the collection is special: “It’s incredibly rare for a collection of this quality, museum caliber and content to come to the market. They’re just 12 works, but each and every one of them is of the caliber that it could sit in the Musée d’Orsay. It’s really rare and also very unknown previously. This is like a discovery for large parts of the world. Most people would have never stood in front of these paintings. They haven’t been seen in public for some 50 years or so.”


The 12 works are expected to make around $450 million at the sale, which includes Impressionist and Modern works.


The Blaquier-Arrieta collection is one of the world’s most prestigious private art collections, assembled by late Argentine industrialist Carlos Pedro Blaquier and patron Nelly Arrieta de Blaquier in the 1970s.


It was known about in art circles, but even those in the art world have been taken aback by its richness.


This article was provided by The Associated Press.


Viewpoint Discussion

Enjoy a discussion with your tutor.

Discussion A

  • Arlequin is estimated to sell for around $120 million, while the 12 works together may make about $450 million. In your opinion, what makes an artwork valuable enough to be worth millions? Discuss.
  • The Blaquier-Arrieta collection has been privately held since it was assembled in the 1970s, and many of the paintings have not been seen publicly for about 50 years. Do you think important works of art should be available for the public to see? Why or why not? If you owned a famous painting, would you display and share it with others? Why or why not? Discuss.

Discussion B

  • The collection is expected to make around $450 million when it is sold at auction. In your opinion, is buying expensive art more about enjoying art or making money? Why do you say so? Discuss.
  • What would you do if something you bought because you loved it suddenly became extremely valuable? Discuss.