Art Market Monitor

Global Coverage ~ Unique Analysis

  • AMMpro
  • AMM Fantasy Collecting Game
  • Podcast
  • Contact Us

How High Richter?

February 14, 2012 by Marion Maneker

Barron’s Penta blog is skeptical of Citi’s Jonathan Binstock’s aggressive but very sensible prediction that Richter will soon take his place alongside Warhol, Picasso, Koons and Hirst:

“Richter has been besting himself regularly at many auction levels since the heights of 2007 and 2008. In the past five years his auction price has approximately quadrupled.”

In February 2007, a record of $5.5 million was reached for the Richter work, Abstraktes Bild(1991). Binstock now says that same work “might be valued around $12 million. Between February 2007 and November 2011, Richter achieved no less than five record prices at auction, making a steeply escalating tear through the Great Recession that seems unrivaled by any other artists.” That is impressive. Even his smaller works, in the hard hit mid market of the $1 million to $5 million range, are “defying gravity in more ways than one.” […]

“While Richter still has a long way to go in order to compete with his fellow colleagues in terms of total market volume and record prices, it is clear that he is in the process of being catapulted to a rare and illustrious realm of authority where market forces combine with art history to shed light on the future of one of our grandest cultural traditions.”

Citi Private Bank: Artist Gerhard Richter the Next Picasso (Barron’s)

More from Art Market Monitor

  • Sotheby’s Announces $30m Richter Abstract Diptych for NovemberSotheby’s Announces $30m Richter Abstract Diptych for November
  • Catching Up on the Richter MarketCatching Up on the Richter Market
  • Marian Goodman Is Looking for a Few Rich DonorsMarian Goodman Is Looking for a Few Rich Donors
  • How Honest Is the Richter Market?How Honest Is the Richter Market?
  • Richter Comes in Second to Picasso with $83m NY TotalRichter Comes in Second to Picasso with $83m NY Total
  • Christie’s Makes Its Mark on Richter MarketChristie’s Makes Its Mark on Richter Market

Filed Under: Artists Tagged With: Gerhard Richter

About Marion Maneker

LiveArt

Want to get Art Market Monitor‘s posts sent to you in our email? Sign up below by clicking on the Subscribe button.

  • About Us/ Contact
  • Podcast
  • AMMpro
  • Newsletter
  • FAQ

twitterfacebooksoundcloud
Privacy Policy
Terms & Conditions
California Privacy Rights
Do Not Sell My Personal Information
Advertise on Art Market Monitor