Record prices for masterpieces are defying expectations that art auctions would feel the impact of a slowing economy.
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Claude Monet's water lilies masterpiece "Le Bassin aux Nympheas" sold for $80.5 million at Christie's in London in late June, setting a new world record for Monet's work at auction.
By Eugenia Levenson, writer-reporter
Last updated July 03 2008: 12:23 PM ET
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