Legendary rock guitarist Eric Clapton is selling one of his abstract paintings by Gerhard Richter with a high estimate of $20 million at Sotheby's in London on Oct. 12.
Purchased in 2001, “Abstraktes Bild (809-4)” from 1994 is one in a series of 3 works that Clapton picked up for $3.4 million.
The high estimate, at twenty times the price paid 11 yesrs ago, reflect Richter's rising stature as one of the most bankable contemporary artists today. His profile was boosted by popular retrospectives at Tate Modern, London, and the Pompidou Center.
Richter's auction record is $21.8 million paid for the 1993 “Abstraktes Bild (798-3)” at Christie’s in New York in May.