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Going once: A packed Christies sale room looks on as telephone bidders vie for the most important (and the largest) of Monet's Waterlilies, sold at Christie's, London for an astonishing £40.1 million on June 24, 2008, setting a record price for the artist and a record for any Impressionist painting.

DAY 10 Today is WednesdayThursday, January 12th, and we are examining the role of the auctions in the art market. In 2012, Christie's will be 250 years old.

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