Impressive Abstraktes Bild by Gerhard Richter Headlines Phillips' Hong Kong 20th Century & Contemporary Art Evening Sale in Collaboration with Yongle

Hong Kong – 9 November 2022 

On 1 December, Phillips' Hong Kong Evening Sale of 20th Century & Contemporary Art in conjunction with Yongle Auction will be headlined by Gerhard Richter's Abstraktes Bild (774-1), 1992, with an anticipated price range of HK$80-120 million/US$10.2-15.3 million.

This aesthetically captivating masterwork is a superb illustration of Richter's technical and conceptual approach to painting, and it is being offered for auction for the first first time. The current piece, executed in 1992 after Richter's breakthrough retrospective at London's Tate Modern the previous year, is the clearest expression of his best phase of abstraction.

Jonathan Crockett, Chairman, Asia, Phillips, said,

"We are happy and privileged to exhibit Gerhard Richter's Abstraktes Bild (774-1), which was created at a zenith of the artist's career, when he received unparalleled critical acclaim. The early 1990s are considered as the zenith of the artist's aesthetic investigation into the nature of abstraction, and his status as one of the most significant living artists was solidified via a succession of large exhibits produced during this time. In light of the fact that the highest prices for Gerhard Richter works at Hong Kong auctions have all been attained during the previous two years, it is evident that the desire among Asian collectors for extraordinary works by this German artist is higher than ever. We are pleased to present this masterwork from one of the artist's most renowned abstract cycles as the centrepiece of our Fall season in Asia."

Abstraktes Bild (774-1) For the First Time, a Masterpiece from Richter's Celebrated Abstract Series Goes to Auction

Abstraktes Bild's superb striations indicate a new advancement in Richter's technique throughout the 1990s. Periodically, he was attracted to a more subdued, sad colour palette. His recurring use of striped and gridded compositions suggests his research of combining brilliant colours with the more subdued, melancholy colour palette. This is shown in the current work by the visual interaction between layers of dark red, blue, and green.

Abstraktes Bild (774-1) is created in a colour of a deep red hue, which is extremely representative of Richter's work from this era. Abstraktes Bild highlights the artist's mastery of the squeegee method, generally regarded as one of his most significant achievements to art history. His left-to-right, stop-and-go squeegee movements excite the viewer's tactile senses by creating paint buildups, which line and rise above the hypnotic and aquatic columns like tides, adding yet another depth to the work.

Gerhard Richter, one of the most influential modern painters working today, is now the subject of a major retrospective at the Toyota Municipal Museum of Art in Japan. Richter, who recently celebrated his 90th birthday earlier this year, was the focus of exhibitions in three German towns and his first major solo exhibition in Tokyo. Numerous Richter abstractions are already housed in the world's most prestigious museums and public collections, since they have garnered immense institutional praise over many decades.

Phillips in Association with Yongle Day Sale of 20th-Century and Contemporary Art and Design30 November 2022 at 11 a.m. HKT

Phillips in Association with Yongle Evening Sale of 20th Century and Contemporary Art1 December 2022 at 6:00 PM HKTLocation: 88 Queensway, Admiralty, Hong Kong, JW Marriott Hong Kong

About Phillips 

When it comes to 20th and 21st century art and design, Phillips is your go-to online destination. Phillips is a leading provider of expert advice and services in all areas of collecting, with particular expertise in 20th-century and contemporary art, design, photography, editions, watches, and jewelry. Salerooms in New York, London, Geneva, and Hong Kong host auctions and exhibitions, and regional offices in Europe, North America, and Asia provide support for customers. An additional service offered by Phillips is an online auction house that is available all around the world. In addition to providing opportunities for buying and selling, Phillips also acts as a broker in private transactions and offers assistance with appraisals, valuations, and other financial services. For further information, please check out www.phillips.com