Eric Clapton's could gain millions in sale of abstract painting by German artist Gerhard Richter at a Sotheby's auction in October
Eric Clapton is expected to sell an abstract painting next month for millions more than he paid for it a decade ago.
The British rocker bought "Abstraktes Bild (809-4)" by German artist Gerhard Richter (whose work sold for more than $20 million at a New York auction in May) as part of a three-piece set in 2001 for about $3.4 million.
Now, the primarily red, navy blue and yellow painting is worth between $14 and $19 million, according to Sotheby’s, which is auctioning the piece in London on Oct. 12.
“'Abstrakes Bild’ is one of the great abstract masterpieces by Gerhard Richter,” Alex Branczik, Sotheby’s senior director of contemporary art, said in a statement.
“It’s appearance on the market presents collectors with unique ability to acquire an outstanding work by one of the world’s greatest living painters.”
On the mainstream side: Richter's painting of a candle appeared on Sonic Youth's Daydream Nation album in 1988.
Kudos to Clapton, who may or may not quit his day job as a musician to become a full-time fine art dealer.