How Much Is Summer's Day Worth?
Last updated: January 18, 2026
Quick Facts
- Methodology
- extrapolation
Final estimate for Berthe Morisot’s Summer’s Day (Jour d’été): $23–32 million. This range extrapolates from the artist’s standing auction record, applying a canonical-masterpiece premium for an image of exceptional fame, rarity, and museum-level provenance.
Valuation Analysis
Conclusion: We estimate Summer’s Day (Jour d’été) at $23–32 million. The range is an upward extrapolation from Berthe Morisot’s standing auction record, calibrated for a canonical, museum-codified masterpiece with extraordinary visibility, impeccable early dealer provenance (Bernheim‑Jeune/Durand‑Ruel), and its long-held position in the National Gallery, London, via the Lane Bequest [1][2].
Work stature and provenance: Summer’s Day is among Morisot’s most reproduced and frequently cited images—an emblem of Impressionist modern life painted at the height of her powers (c.1879). Its ownership history runs through top-tier Paris dealers before Sir Hugh Lane’s 1912 acquisition and the 1917 bequest to a national collection, cementing its art-historical benchmark status [1]. This degree of institutional validation and cultural recognition warrants a significant premium over privately held, even very fine, Morisots.
Market anchors and comparables: Morisot’s public auction record stands at approximately $10.9 million (Christie’s London, 2013, Après le déjeuner) [2]. Adjusted for today’s pricing context, that result effectively sets a ~$14–15 million reference point for a masterpiece by the artist. Quality 1870s–1880s oils have traded in the mid-single to low-eight figures historically, while recent season results for attractive oils have clustered in the low seven figures—underscoring that the very top of her market is defined by rarity rather than volume. A canonical, museum-level image like Summer’s Day should decisively reset the record.
Category backdrop: Impressionist/Post‑Impressionist auction values fell in 2023–2024 amid a scarcity of $10m+ consignments, but the market has remained deep and selective, with buyers concentrating capital on the most important works [3]. Late‑2025 marquee auctions reaffirmed the trophy dynamic (e.g., the record Klimt), demonstrating that truly iconic pictures in this time frame still command intense global competition [4]. Against this backdrop, Summer’s Day would read as a cross‑category, lot‑leading prize.
Deriving the $23–32 million range: We start from the inflation-aware equivalent of Morisot’s 2013 record and apply a 1.6×–2.2× “canonical masterpiece” premium reflecting: (i) the painting’s signature status and extraordinary reproduction history; (ii) scarcity of equivalently important Morisots outside museums; (iii) blue‑chip dealer and institutional provenance; and (iv) the category’s trophy‑seeking behavior. The result is a base‑case of ~$23–27 million, extending to ~$32 million under competitive bidding. In a highly choreographed sale with multiple committed principals, the upper bound would be readily testable. While the National Gallery is unlikely to deaccession, this hypothetical range represents what the open market would reasonably bear for a work of this caliber.
Key Valuation Factors
Art Historical Significance
High ImpactSummer’s Day is a hallmark of Morisot’s mature Impressionism: a refined, modern-life subject painted with the fluid, economical brushwork and chromatic freshness that define her best period. It is among her most frequently reproduced images and functions as a touchstone in exhibitions and scholarly literature, shaping how the artist is taught and understood. Works that become a visual shorthand for an artist’s achievement typically sit at the absolute top of the value spectrum. In the context of Morisot—one of Impressionism’s founders and a central figure in the reappraisal of women artists—this painting’s art-historical weight supports a substantial premium within the blue-chip Impressionist canon.
Provenance and Institutional Visibility
High ImpactThe painting’s trajectory—through Bernheim‑Jeune and Durand‑Ruel to Sir Hugh Lane and then by bequest into a national collection (now at the National Gallery, London)—is exemplary. Decades of museum stewardship, scholarly attention, and continuous public visibility have elevated the work to benchmark status. Such institutional provenance mitigates authenticity risk, enhances buyer confidence, and confers cultural capital that private-market works rarely match. The National Gallery context, coupled with the Lane Bequest’s historic resonance, turns Summer’s Day into a reference point for Morisot’s oeuvre, justifying a valuation significantly above auction comparables for otherwise excellent but less storied paintings.
Scarcity and Demand Dynamics
High ImpactTop‑tier Morisot masterpieces from the core 1870s–1880s are exceptionally scarce in private hands; most reside in major museums. This structural scarcity converges with robust global demand for blue-chip Impressionism and the ongoing recalibration of historically important women artists. When a singular, canonical example surfaces—or is hypothetically valued—collectors are prepared to pay multiples of standard comparables to secure a work that effectively defines the artist. The absence of near substitutes, broad cross‑category appeal, and a deep international buyer base create the competitive conditions that support a step‑change above the artist’s standing auction record.
Market Positioning vs. Record
Medium ImpactMorisot’s standing auction record is ~$10.9 million (2013), which, in today’s context, implies a ~$14–15 million “masterpiece baseline.” Summer’s Day warrants a canonical‑image premium due to fame, provenance, and literature/exhibition profile. The 1.6×–2.2× uplift we apply reflects observed trophy behavior in the Impressionist/Post‑Impressionist segment, where singular, museum-grade works clear prior records decisively when properly marketed. While overall category volumes have softened in recent years, capital remains concentrated at the apex; this positioning makes Summer’s Day a likely record‑setter for the artist and supports a $23–32 million expectation in an unconstrained sale.
Sale History
Summer's Day has never been sold at public auction.
Berthe Morisot's Market
Berthe Morisot is a foundational Impressionist with a blue‑chip market defined by limited supply of top‑quality oils and broad international demand. Her public auction record—Après le déjeuner at approximately $10.9 million (Christie’s London, 2013)—remains the benchmark for a masterpiece result, with additional notable 1870s–1880s oils historically achieving multi‑million prices. In recent seasons, attractive oils have traded in the low seven figures, reflecting selectivity and scarcity rather than weak demand. Heightened institutional attention, major exhibitions, and the wider revaluation of historically important women artists have strengthened her market’s depth. A truly canonical work would be expected to reset the artist’s record meaningfully.
Comparable Sales
Après le déjeuner
Berthe Morisot
Artist’s auction record; mature Impressionist period (1881); oil on canvas; hallmark female modern-life subject. Calibrates the upper bound of public market demand for a Morisot masterpiece.
$10.9M
2013, Christie's London
~$14.4M adjusted
Femme et enfant au balcon
Berthe Morisot
Oil on canvas from the 1870s with a quintessential modern-life subject (women/child in an outdoor setting). Strong quality and evening-sale context make it a close subject-period comp.
$5.1M
2017, Christie's London
~$6.2M adjusted
Femme en noir (Avant le théâtre)
Berthe Morisot
Oil on canvas, 1875; iconic Parisian modern-life subject. Useful for pricing mature, fashionable female figure imagery even if scale/impact are below Summer’s Day.
$2.5M
2017, Christie's London
~$3.1M adjusted
Jeanne Fourmanoir sur le lac
Berthe Morisot
Oil on canvas with a waterside/lake theme (1892). Later date but closely aligned motif-wise to Summer’s Day’s boating/park setting; shows current demand for related subjects.
$1.6M
2023, Christie's New York
~$1.7M adjusted
Julie Manet with a Parakeet
Berthe Morisot
Oil on canvas, signature family-circle subject (1890). Recent benchmark for attractive oils in the current market, establishing the seven-figure liquidity floor.
$1.3M
2025, Christie's Paris
Jeanne Gobillard au piano et Julie Manet
Berthe Morisot
Pastel on canvas (1888). Different medium (therefore a discount to oil), but close in date and subject circle; provides a conservative comp for demand around intimate figure imagery.
$802K
2025, Christie's London
Current Market Trends
Impressionist/Post‑Impressionist auction values contracted in 2023–2024 amid a paucity of $10m+ consignments, even as transaction volumes rose at lower price tiers. Buyers have concentrated on best‑in‑class, museum‑caliber works with pristine provenance, creating a bifurcated market: selective for average material, vigorous for trophies. Late‑2025 marquee sales reaffirmed this dynamic, with icons achieving headline prices and re‑energizing confidence at the top end. Within this environment, canonical, institution‑validated masterpieces—especially those by artists central to current scholarship—command significant premiums and can set new artist benchmarks when introduced with global access and competitive staging.