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November 09, 2012

Art Gift Brings $50-Million for N.Y. State Private School

Three Impressionist paintings bequeathed to the Hackley School in Tarrytown, N.Y., including a 1905 Claude Monet, were sold at auction Wednesday for more than $50-million, making the gift one of the most valuable ever to an independent school in New York State, The Journal News of Westchester County reports.

Monet's "Nympheas" fetched $43.8-million at Christie's in New York City, believed to be the second-highest price ever for a work by the French master.

The bequest by Ethel Strong Allen, widow of the Wall Street takeover artist Herbert Allen Sr., also included paintings by Camille Pissarro and Alfred Sisley. Three generations of Mr. Allen's family have attended Hackley and he was a longtime trustee of the school, whose headmaster, Walter Johnson, termed the art gift "a transformative moment" for the for the institution.