Richter painting sells for $37 million in NYC
NEW YORK (AP) — A monumental 20th-century masterpiece by German artist Gerhard Richter (GEHR'-hahrd RIHK'-tur) has sold for $37 million at a New York City auction.
Sotheby's says "Domplatz, Mailand" (DOHM'-plahtz MY'-lahnd) set a record for any living artist at auction. It was purchased Tuesday by a private American collector.
The 9-foot-by-9-foot oil was commissioned by Siemens Elettra (ZEE'-mehns eh-LEHT'-truh) in 1968 for its Milan offices.
It is considered an outstanding example of Richter's 1960s photo-painting technique. The work depicts a shopping center facing Milan's cathedral.
It was offered for sale by the Hyatt Hotels Corp. Some of the proceeds will be used to acquire new art for its hotels.
Copyright 2013 The Associated Press.