Monet's Meule displayed in Hong Kong in the painting's first-time Asian show

Christie's Hong Kong showroom displayed Claude Monet's Meule (Grainstack) here on Tuesday.

The painting will be among the highlights of Christie's Evening Sale in New York this November with an estimated price at around 45 million U.S. dollars.

The painting is exhibited in Asia for the first time, and is recognized as one of the culminating and finest examples of Monet's Grainstack series, which were executed over the winter of 1890-1891, according to Christie's.

The Grainstack series, some twenty-five canvases in all, was the most challenging and revolutionary endeavor that Monet had ever undertaken, Conor Jordan, Deputy Chairman of Impressionist and Modern Art said.

"Meule is rendered with a weft of jewel-like color that evokes both radiant glory of a moment and the universal qualities of the passage of time in nature," he said.

A majority of the Grainstacks series are housed in major art museums around the world, while few are held in private collections, according to Christie's.

In recent years, prices for exceptional examples of Monet's work have soared, driven by demand from collectors worldwide for masterpiece quality works by the greatest master of the Impressionist period, Jordan said.

The top price at auction for any Monet painting is 80.4 million U.S. dollars for Le Bassin aux nympheas from 1919, sold at Christie's London in June, 2008 against an estimate of 35-47 million U.S. dollars.

Jussi Pylkkänen, Christie's Global President said they have been extremely aware of the growing passion for classic Impressionist paintings amongst their leading Asian collectors in the last few years.

He said the Monet market is truly global, and Christie's anticipates great enthusiasm from many collectors who have been eager for one of Monet's iconic Grainstack series.

The painting will highlight Christie's Impressionist and Modern Art Evening Sale in New York on Nov. 16. Endit