Eric Clapton Sells, Richter’s Painting Breaks Record

“The role of the artist is more entertainment now. We entertain people.” – Gerhard Richter

It was definitely entertaining to see Richter’s painting ‘“The role of the artist is more entertainment now. We entertain people.” – Gerhard Richter

It was definitely entertaining to see Richter’s painting ‘Abstraktes Bild’ selling for $ 34 million a few days ago, breaking the record for the highest price paid for an artwork by a living artist. The previous record was held by an icon of modern art, namely ‘Flag’ by Jasper Jones ($ 31.6 million, 2010).

Gerhard Richter is obviously one of the most celebrated contemporary painters. He is to contemporary art what Lucian Freud was to modern art. But an intesting perspective on what makes his works so expensive and sought after comes from Georgina Adam, Art Market Editor at The Art Newspaper. In an article published by Daily Telegraph he mentions that:
“For the art market his work is seen as unassailably safe, at a time when investment in art is the hot ticket. And, Richter has been a great investment for those who bought early, such as Eric Clapton.
Richter’s late, abstract works are particularly sought after because of their broad appeal: colourful abstracts which can fit into any interior, cannot offend anyone and are recognizable trophies which give the owner immense bragging rights.

Cynics point out that, as well, they are domestically sized, so ideal for a luxury apartment – or yacht. And, as Richter is now aged 80, the market recognises that he will not be painting forever.
Add to this a career carefully managed by long-term American dealer Marian Goodman, and by the artist himself, who maintains a detailed website enabling prospective buyers to identify all his work and its sale history – something that has particular appeal to those with investment interest.”

So, in a way, this is an ‘informal recipe’ for the price of an artist’s work. But then there is the quality of the artist, his talent, his passion, and as Richter himself put it: “Once obsessed, one ultimately carries it to the point of believing that one might change human beings through painting.”
’ selling for $ 34 million a few days ago, breaking the record for the highest price paid for an artwork by a living artist. The previous record was held by an icon of modern art, namely ‘Flag’ by Jasper Jones ($ 31.6 million, 2010).

Gerhard Richter
is obviously one of the most celebrated contemporary painters. He is to contemporary art what Lucian Freud was to Realism last century. But an intesting perspective on what makes his works so expensive and sought after comes from Georgina Adam, Art Market Editor at The Art Newspaper. In an article published by Daily Telegraph he mentions that:
“For the art market his work is seen as unassailably safe, at a time when investment in art is the hot ticket. And, Richter has been a great investment for those who bought early, such as Eric Clapton.
Richter’s late, abstract works are particularly sought after because of their broad appeal: colourful abstracts which can fit into any interior, cannot offend anyone and are recognizable trophies which give the owner immense bragging rights.

Cynics point out that, as well, they are domestically sized, so ideal for a luxury apartment – or yacht. And, as Richter is now aged 80, the market recognises that he will not be painting forever.
Add to this a career carefully managed by long-term American dealer Marian Goodman, and by the artist himself, who maintains a detailed website enabling prospective buyers to identify all his work and its sale history – something that has particular appeal to those with investment interest.”

So, in a way, this is an ‘informal recipe’ for the price of an artist’s work. But then there is the quality of the artist, his talent, his passion, and as Richter himself put it: “Once obsessed, one ultimately carries it to the point of believing that one might change human beings through painting.”

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