Richter’s Red Abstract Canvas Sells for $21.4 Million

Gerhard Richter’s blazing red “Abstraktes Bild” from 1991 sold for $21.4 million at Sotheby’s in New York.

The abstract painting, last exhibited in London in 1995, was estimated at $15 million to $20 million. Prices include commissions, estimates don’t.

Sotheby’s postwar and contemporary art sale is continuing.

Before it's here, it's on the Bloomberg Terminal.