Gerhard Richter Work Sells for $2.73m to Deliver a 8% Annualized Return

Gerhard Richter, Abstraktes Bild (1992), sold for $2.73m (EUR2.32m), more than the low estimate at Christie's in Paris on April 15.

The sale beat the previous auction result for this work by $2.14m, equivalent to an annualized return of 8%. It last sold at auction in 2006 for $581,800 at Grisebach .

Oil on canvas, 82.0 x 61.7cm. The work has been traded 6 times in the past.