Richter painting sets sales record for living artist

  • An abstract painting by German artist Gerhard Richter has a set a new historic record for the price paid at auction for the work of a living artist.

    Abstraktes Bild (809-4), from the collection of rock guitarist Eric Clapton, was sold to an anonymous buyer after five minutes of bidding late for $34.2 million at Sotheby's in London on Friday.

    The sale broke the previous record of $28.6 million paid for Jasper Johns' Flag at Christie's auction house in New York in 2010.

    The red, yellow and black oil on canvas had been estimated to fetch $14 to 19 million.