Gerhard Richter Becomes the Most Expensive Living Artist

His work was sold at Sotheby's for £30.4 million.

Gerhard Richter, the German painter, has become the world’s most expensive artist after his abstract oil-on-canvas was sold at Sotheby’s for £30.4 million to the unknown buyer. During the auction the price of the painting has doubled.

“Abstractes Bild” was made in 1986, in Richter’s trademark ‘squeegee-style,’ and is comprised of layered paint pulled away with a piece of wood to produce a colorful multi-layered image.

One of the Sotheby’s experts says the reason for the high demand of Richter’s paintings is his “incredible” museum career and “extremely good” website, which allows potential buyers and collectors to have a precise look at every painting.

According to The Telegraph, 83-year-old artist has a huge interest in his works that are posted for secondary sales.

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