Gerhard Richter - Stellar Prices of Abstract Paintings

German visual artist Gerhard Richter is known for producing both abstract and photorealistic works, completely dismissing the idea of the artist's obligation to maintain a single cohesive style. One of the pioneers of New European Painting, he is perhaps most notable for the constant rise in prices of his paintings. Continuously knocking down records (both his own and those of other people), his Abstraktes Bild was sold for $37.1 million in 2013, and Domplatz, Mailand for $44.52 million in 2015, each setting a record price for a painting by a living artist. Richter's current wealth is said to be somewhere in the neighborhood $42 million.

Featured image: Gerhard Richter - Abstraktes Bild (Detail) - Courtesy of Sotheby's