France buys new masterpiece for Orsay museum with LVMH gift

France has acquired a stunning Impressionist masterpiece for its national collection of art treasures, with a donation from luxury goods giant LVMH paying the 43 million euros (nearly $47 million) for “A Boating Party” by 19th-century French artist Gustave Caillebotte.

The oil on canvas shows an oarsman in a top hat rowing his skiff on languid waters. The work, remarkable in its realism, delicate colors and almost cinematic perspective, as though the artist was in the boat with the rower, went on display Monday in the Musée d’Orsay. It is the latest addition to the Paris museum's already impressive collection of Impressionist art.

The painting was sold by Caillebotte's descendants. It had been one of the last Impressionist masterpieces still in private hands, said Jean-Paul Claverie, an adviser to LVMH boss Bernard Arnault.