£21, 321, 250. The Premium Price of the World’s most expensive artwork to be sold at auction by any living artist, and it happened this evening.
At 7pm the Contemporary art evening auction kicked off at Sotheby’s on Bond St, where lot number 15, Gerhard Richter’s Abstraktes Bild made it’s astonishing new record. With an estimate of 9,000,000 – 12,000,000 GBP the hammer price almost doubled this, with the work that according to the catalogue, “represents an all-enveloping evocation of a distinctly post-modern semblance” and is “a masterpiece of calculated chaos and paradigm of Gerhard Richter’s mature artistic and philosophical achievement”.
This work was always set to be the star of the show, with it’s bold, bright colours and large scale it dominates the room. Although another Richer entered into the sale, making a very notable 1.9million GBP it was nothing abstract away from good old lot 15.
The breaking of an auction record such as this, will help to dispel rumors of a collapsing art market after a somewhat nervous week of Frieze, where dealers have reported that a lack of American buyers has significantly reduced sales.