Gerhard Richter – $34 million art

Despite being one of the richest rock stars in the entire world, the celebrity guitar play Eric Clapton is actually one of the savviest collectors of modern art. Eric, who has already previously had a net worth of an astonishing $200 million, is now more than $30 million richer after a rather competitive auction of various paintings from his personal art collection last year on October 15th 2012. One particular interesting piece of artwork, made by paint Gerhard Richter from Germany, sold more higher than twice the original ideal listing price after a hot bid war between several anonymous wealthy art fans.

Gerhard Richter painting
$34 million artwork by Gerhard Richter

Successfully this piece of artwork actually set a record for the most amount of money ever paid for a piece of artwork by a living artist.

Considered to be one of the greatest guitar players ever if not the best by many rock fans, Eric Clapton actually studied at The Kingston College Of Art in 1961 before leaving to take on music full time. Although pursuing music full time, Eric never lost his appreciation and interest for artwork and began investing in his interest whenever extra money rolled in. Throughout the years he has owned and sold dozens of very high profile paintings that have been valued at millions.

Before the weekend of the auction in October 2012, Sotheby’s which is situated in London reviewed the painting and estimated that Eric Clapton’s pieces, which was a 1994 oil canvas painting by the German artist Gerhard Richter would sell for a massive $14 million. Clapton only purchased the painting for $3.2 million in 2001 therefor selling it for this much would have been pretty something special.

Eric Clapton
Eric Clapton, art collector!

As the auction began, a hard five minutes of a bidding war broke out between three art collectors (obviously very wealthy!) Finally when the bidding war ended the winning bid was for $34,190,756. That is actually more than double the original expected price for the sale and is representing a 965% return in money For Eric himself in just ten years. A world record was also set because $34 million is the highest amount of money ever paid for a living artist, which beats the $28 million someone paid for Jasper John’s work called ‘Flag’. Gerald Richter who  is 82 years of age has long been considered to be one of the greatest artists in the world!

Author : Sean Alder Editor Of

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