‘Mornings on the Seine’ Painting by Claude Monet Could Fetch Nearly $23 Million
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Christie’s will sell a painting from Claude Monet’s Matinées sur la Seine series at its evening sale of 20th- and 21st-century art on March 7 in London for an estimated price of up to £18 million (US$22.7 million).
Matinée sur la Seine, temps net (Mornings on the Seine, clear weather) , 1897, was consigned by an unnamed collector who bought it in May 1978 at a Sotheby’s auction in New York for US$330,000, according to Christie’s. The painting is among early examples of Monet’s practice of serialising specific scenes, “a technique that would ultimately transform his art,” Christie’s said in a news release.
In this example, Monet painted the river Seine during summer mornings in 1896 and 1897. “Tracing the sun as it passes over the scene, from the first rays of light at dawn, to the full brilliance of the sun at mid-morning, this extraordinary sequence of works was conceived as a connected, interrelated sequence of canvases,” Christie’s said.
A viewer can see the sun rising across the canvases when they are exhibited as a group, the auction house said. It was after Monet painted the Creuse valley in central France at different times of day in 1889 that he returned to the idea of serialization. A painting from the Creuse series, Prairie fleurie à Giverny , 1890, also will be offered during the March 7 evening sale. Christie’s has not placed a value on the work yet, which is being consigned from a Japanese collection.
Another example from the Seine series, also painted in 1897, sold at Christie’s in November 2017 from the collection of Nancy Lee and Perry R. Bass. Titled simply Matinée sur la Seine , the painting sold for nearly US$23.4 million. Matinée sur la Seine, temps net has not been seen publicly since 1990, when it toured in an exhibition titled “Monet in the ‘90s: The Series Paintings,” which opened at the Museum of Fine Arts in Boston before traveling to the Art Institute in Chicago, and the Royal Academy of Arts in London.
The painting will be on view in New York from Friday through Wednesday, before being shown in Hong Kong from Feb. 21-23 and then in London, March 1-7.
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The social-media company’s revenue increased 14%, falling short of estimates.
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Pinterest shares tumbled after the company projected that revenue growth would slow in the first quarter, amid an advertiser pullback that weighed on its fourth-quarter earnings.
Shares slid 18.5% to $15.10 in after-hours trading after closing the market session down 2.9% at $18.54.
Pinterest reported a 14% increase in fourth-quarter revenue to $1.32 billion, up from $1.15 billion a year earlier, but short of analysts’ estimate of $1.33 billion, according to FactSet. The company posted 17% revenue growth in the third quarter.
The company expects growth to decelerate further in the current first quarter, projecting growth between 11% and 14%. It’s forecasting revenue between $951 million and $971 million.
Chief Executive Officer William Ready said the company needs to broaden its revenue mix and accelerate sales going forward.
“We are not satisfied with our Q4 revenue performance and believe it does not reflect what Pinterest can deliver over time,” he told analysts on a call Thursday. “We are moving with urgency to return over time to the mid-to-high-teens growth, or better than what we have been consistently delivering.”
Pinterest on Thursday recorded a profit of $277.1 million, or 41 cents a share, compared with its profit of $1.85 billion, or $2.68 a share, a year earlier. The $1.85 billion profit in 2024 included a $1.6 billion benefit from deferred tax assets.
Stripping out certain one-time items, Pinterest logged adjusted earnings of 67 cents a share, in line with analyst expectations, according to FactSet.
Ready said the company continues to see headwinds from larger retailers pulling back on advertising spending to protect their margins amid the impact from President Trump’s tariffs.
“We saw continued softness from this cohort of large retailers,” Ready said. “While we see opportunity over the long term, the near-term outlook for this cohort on our platform remains pressured given these headwinds.”
Ready said the company has expanded its footprint among mid-market and small-to-medium business advertisers, as well as international businesses. Still, he said Pinterest had a ways to go to offset the headwinds from larger advertisers, which may become even more pronounced in the current quarter.
Chief Financial Officer Julia Donnelly added that the company is looking to increase its investments in sales and research and development related to artificial-intelligence following the launch of its restructuring effort in January. Pinterest said last month that it would cut about 15% of its workforce, or approximately 700 jobs.
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