Big collectors' art leading auctions

ULA ILNYTZKY Associated Press Published:

Associated Press

NEW YORK -- Works from the estates of heiress Huguette Clark, Edgar Bronfman and other major collectors are leading New York City's spring art auctions.

The sale of impressionist and modern art began Tuesday evening at Christie's. The auction house said it expects to raise more than $245 million.

Among the top lots is Claude Monet's shimmering "Water Lilies." It hasn't been publicly exhibited since 1926 and is estimated to sell for $25 million to $35 million.

It belonged to Clark, a Montana copper mining heiress who died in 2011. She was the daughter of U.S. Sen. William A. Clark, who founded Las Vegas. Christie's is selling hundreds of items from her collection after a feud over her estate was settled in the fall.

Sotheby's is holding its own auction today.

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