A Gerhard Richter painting owned by Eric Clapton sold for a record ₤21.3 million at Sotheby's London, or $34.2 million, over 30 times what Clapton paid for the Work in 2001.
The 1994 Gerhard Richter "Abstraktes Bild (809-4)” was sold by Sotheby’s London for its “Frieze Week” auction of contemporary artworks with an estimate of ₤9 - ₤12 million.
The buyer was Sotheby's Natasha Mendelsohn, acting on behalf of unidentified phone bidder. She was underbid by Tobias Meyer, Sotheby’s worldwide head of contemporary art, also taking instructions from a second phone bidder.
Outrageously, the Gerhard Richter panel was originally sold by Sotheby's in 2001 as a triptych, this being one of the panels. Apparently Mr. Clapton has kept the two remaining panels!