German abstract painting sells for record price
An abstract oil painting by German artist Gerhard Richter and owned by musician Eric Clapton broke auction records Friday when it sold at Sotheby’s in London for more than €26 million.
Richter’s work, "Abstraktes Bild," from 1994, sold to an anonymous bidder after a five-minute bidding war with another interested party.
According to Sotheby’s, the £21.3 million sale was an auction record for a living artist. It was also a new record for a work by the 80-year-old Richter. In May, one of his paintings sold in New York for $21.9 million (€17 million).
Friday’s sale in London exceeded expectations for the abstract painting, which had been assumed would fetch between £9 million and £12 million, according to the Associated Press.