It was knocked down at $19.5m (£15.6m) at Christie’s Post-War and Contemporary Art sale, a price which represented a huge profit for the singer-songwriter.
Abstraktes Bild (809-2) from 1994 was one of a group of four works by the German painter first exhibited at Anthony d’Offay Gallery the year after it was painted. One of the oils on canvas is now in the joint collection of the Tate and the National Galleries of Scotland, but the other three entered the Ulla and Heiner Pietzsch collection and were acquired by Clapton for $3.4m (£2.43m) as a single lot at Sotheby's in 2001.
The works have proved a lucrative return for British blues legend with one selling for £19m at Sotheby’s London in 2012, and another fetching $20.9m (£13.1m) including premium at Christie’s New York in 2013.
The example at the current sale measured 7ft 5in x 6ft 7in (2.25 x 2m) and was estimated at $18m-25m. The price demonstrated the massive growth in the prices for Richter over the last 15 years and meant Clapham had made a profit of over £35m on the three works.
De Kooning Auction Record
Overall, the 61-lot Christie’s sale posted a sturdy performance with 54 works selling (89%) for a hammer total of $239.46m (£191.6m). The presale estimate was $216.6-306.6m.
The sale posted auction records for four artists including Willem de Kooning whose trademark abstract expressionist painting Untitled XXV from 1977 was the sale’s top lot. The 6ft 5in x 7ft 4in (1.96 x 2.24m) oil on canvas was estimated ‘in the region of $40m’ but was taken to $59m (£47.2m).
It had previously sold at Christie’s New York back in 2006 for $27.1m including premium.
‘Untitled XXV’ by Willem de Kooning (1904-1997) that sold for an auction record $59m (£47.2m) at Christie’s New York.
Christie’s senior vice president and head of Post-war and Contemporary art Sara Friedlander said: “The success of this work is a benchmark for the current marketplace, which is exceedingly receptive to works of the highest quality across a range of prices.”
However, ATG understands that works by de Kooning have changed hands privately for over double this level.
£1 = $1.25
