How Monet became a millionaire: the importance of the artist’s account books

Simon Kelly ()
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Simon Kelly: Saint Louis Art Museum

Journal of Cultural Economics, 2023, vol. 47, issue 3, No 4, 437-460

Abstract: Abstract This essay explores Monet’s rise to great wealth, drawing on evidence provided by the artist’s three account books, housed in the Musée Marmottan Monet, Paris. Assimilating unpublished data, the essay charts Monet’s growing annual income as well as the increasing individual prices for his paintings. It argues for the central role of the artist’s serial painting process in his financial success. The essay examines the seminal contribution of Parisian dealers to Monet’s growing wealth, principally the dealer Paul Durand-Ruel. It also explores Monet’s willingness to work with a range of other dealers in order to raise his prices. The essay looks at the significant role of Monet’s collectors, and particularly the internationalization of his clientele, as a key factor in his success. Overall, it argues for Monet’s commercial acumen, and in general, his recognition of the importance of his own agency in the creation of his market.

Keywords: Art market; Monet; Durand-Ruel; Impressionism; Account books (search for similar items in EconPapers)
Date: 2023
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DOI: 10.1007/s10824-023-09473-y

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