June 2002 - Nr. 6
Richter Paintings Command Spectacular Prices at Auction
TWIG - Two paintings by German artist Gerhard Richter commanded spectacularly high prices this week at the annual auction for contemporary art at Sotheby’s in New York City. 180 Colors and Candles both sold for US$3.9 million, far exceeding their estimated market value of US$2 million to US$3.5 million. New York’s Museum of Modern Art is featuring a retrospective of Richter’s work this spring. After the exhibit closes on May 21, it will move on to museums in Chicago, San Francisco and Washington, D.C. Sotheby’s auction for post-World war II art is regarded as one of the high points of the international art trade. Auctioneer Tobias Meyer said he was "very, very excited" about the results this year, describing the sales tempo and turnover as "especially strong."
