German abstract painting sells for record price

German abstract painting sells for record price
Photo: DPA
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.

DAPD/The Local/mbw

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