Claude Monet's Nympheas (1906) estimated at $50.4m

A 1906 painting from Claude Monet's Nympheas (or water lilies) series is to lead Sotheby's Impressionist and Modern Art evening sale in London on June 23.

The £20m-30m ($33.6m-50.4m) estimated work was formerly in the collection of art dealer Paul Durand-Ruel, who organised the artist's hugely popular 1909 exhibition "Les nympheas, series de paysages d'eau par Claude Monet".

Monet Nympheas Sothebys
Monet's water lily paintings are among his most celebrated works

Ruel was instrumental in developing the careers of many impressionist painters and popularising the form in America - which proved highly receptive to modern European art. He once famously stated: "The American public does not laugh. It buys!"

In May of this year a Nympheas from the Clark collection dating to 1907 sold for $27m at Christie's New York.

We have this autographed letter from Monet available.

Pablo Picasso's Portrait de Femme (1937) is valued at £4m-6m ($6.7m-10m).

The painting depicts the distinctive features of Marie Therese, the woman who inspired some of his most celebrated paintings, against a striped background.  

Check out this signed postcard from Pablo Picasso dating to 1967.  

Piet Mondrian's Composition with Red, Blue and Grey (1927) is expected to become the artist's most valuable work with an estimate of £13m-18m ($21.8m-30.2m).

The hard-line minimalism evident in the painting is typical of the work he was producing in Paris during the 1920s, with much of the canvas occupied by empty space.

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