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Richter $16.6 Million Record Leads Auction Boost to Art Market

A Gerhard Richter painting sold for a record $16.6 million last night as Christie’s International boosted confidence in the top end of the contemporary-art market and reassured dealers at the end of a nervous “Frieze Week.”

Christie’s London was rewarded for including museum-quality works in a “mid-season” sale with a total of 38.1 million pounds ($60 million) with fees.