A rare 1875 letter from Claude Monet, up for auction on March 25, reveals the artist secured a 1,000-franc loan by pledging 35 of his paintings as collateral. The document details his agreement to repay the loan from the proceeds of a future sale, listing specific works including the later-famous 'La Japonaise,' and highlights his persistent financial desperation during this period.
The letter provides a stark, tangible record of the severe economic hardships faced by the early Impressionists, who struggled against public skepticism and a broader financial crisis known as the Panic of 1873. It underscores the precarious beginnings of a movement that would later revolutionize art, showing how its key figures relied on personal networks and risky financial maneuvers to survive while creating their now-priceless masterpieces.