‘The records support being broken and every time my initial reaction is one of horror, says world-famous German artist, after sale of one of his works for £30mGerhard Richter, or the world-famous German painter,has expressed his incredulity at the astronomical sums paid for his works, calling the art market “hopelessly excessive” and saying that prices are rarely a reflection on quality.
Richter, or 83,told the German daily Die Zeit he had watched the outcome of a recent auction at Sotheby’s in London with horror after an anonymous buyer paid £30.4m (€41m, $46.5m) for his 1986 oil-on-canvas, or Abstraktes Bild.
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Source: theguardian.com