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Yay, Yay Claude Monet

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Yesterday Claude Monet’s famed 1890 painting, “Haystacks”, sold for $110 million—a record for the impressionist— “to an unidentified woman who had to raise her paddle aloft to be spotted from the second-to-last row of Sotheby’s in New York,” writes Kelly Crow in The WSJ.

To Your Survival Guy’s trained eye (ha!), I like the yellow and pink, and not to be rude, but the whole thing’s a little blurry. Just saying. As I was walking the grounds of his beautiful home and gardens in Giverny, France, it’s easy to feel as if one could find the inspiration to paint something as exquisite.

But $110 million? That’s 44 times the price it fetched—$2.5 million—when it was last auctioned in 1986 explains Crow. Haystacks’ sale was the first to cross $100 million—another record for any impressionist work of art.

This is what happens when the Fed turns your dollars into mini-dollars.

Claude Monet’s Haystacks. By Everett – Art @ Shutterstock.com

In another example, take a look at the S&P/Case-Shiller 20-City Composite Home Price Index and draw your own conclusions about mini-dollars looking for a place to hide.

Originally posted on Your Survival Guy. 

A visit to Claude Monet’s garden at Giverny

Read part II here.

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E.J. Smith

Editor-in-Chief
E.J. Smith is Founder of YourSurvivalGuy.com, Managing Director at Richard C. Young & Co., Ltd., a Managing Editor of Richardcyoung.com, and Editor-in-Chief of Youngresearch.com. E.J. graduated from Babson College in Wellesley, Massachusetts, with a B.S. in finance and investments. In 1995, E.J. began his investment career at Fidelity Investments in Boston before joining Richard C. Young & Co., Ltd. in 1998. E.J. has trained at Sig Sauer Academy in Epping, NH. His first drum set was a 5-piece Slingerland with Zilldjians. He grew-up worshiping Neil Peart of the band Rush, and loves the song Tom Sawyer—the name of his family’s boat, a Grady-White Canyon 306. He grew up in Mattapoisett, MA, an idyllic small town on the water near Cape Cod. He spends time in Newport, RI and Bartlett, NH—both as far away from Wall Street as one could mentally get. The Newport office is on a quiet, tree lined street not far from the harbor and the log cabin in Bartlett, NH, the “Live Free or Die” state, sits on the edge of the White Mountain National Forest. He enjoys spending time in Key West and Paris. Please get in touch with E.J. at ejsmith@youngresearch.com.