Case Study: Eric Clapton’s Richter at Auction

It appears that in addition to being one of the greatest guitar players of all time, Eric Clapton is also a savvy art investor. At Sotheby’s Fall sale of Contemporary Art this coming October 12 in London, the rock legend will sell a painting by Gerhard Richter. With an expected hammer price of $14-19 million, his profit will be exceptional since he purchased it and two other Richters at Sotheby’s for $3.4 million in 2001.

Though the piece, an abstract canvas called “Abstraktes Bild (809-4)”, is not expected to set a record for paintings by Richter (currently $21.8 million), it is considered equal in quality to the best works by the artist currently held in museums around the world. The fact that the provenance will include ownership by Clapton will make it that much more desirable.

I wouldn’t mind owning the Richter, but I’d still prefer to have a few of Clapton’s guitars.  Just sayin’.