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    Gerhard Richter Domplatz, Mailand 1968 ($30-40 million). (Click on image to enlarge). UPDATE: IT SOLD FOR $37,125,000

    Domplatz, Mailand a 20th century masterwork by Gerhard Richter will highlight Sotheby’s spring Contemporary Art evening auction in New York on May 14.  From the Park Hyatt Hotel in Chicago the work came about through a commission from Siemens Elettra to produce a monumental work for their Milan offices in 1968. More than nine feet square the canvas was Richter’s most ambitious work to date and the largest figurative work he had created. It now stands as the epitome of his 1960’s phote-painting canon.  

    The painting hung at Siemens for 30 years.  It was acquired by the Pritzker family at a Sotheby’s auction in London in 1998. It subsequently hung in their Park Hyatt Hotel in Chicago for over a decade. It is being sold by the Hyatt Hotels Corporation and is estimated at $30-40 million. The sale comes just seven months after Sotheby’s established a new benchmark for Richter with Abstraktes Bild (809-4) selling for $34.3 million. Tobias Meyer, Sotheby’s worldwide head of contemporary art said: “This is the work the market has been waiting for and its sale is certain to be an historic event”.  Hyatt intends to continue to exhibit high quality art and will apply a portion of the proceeds to fund selected new acquisitions.

    UPDATE: IT SOLD FOR $37,125,000.

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