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Gerhard Richter
Gerhard Richter painting to be sold to fund new Linda Pace art space
Gerhard Richter painting to be sold to fund new Linda Pace art space

A work by Gerhard Richter that belonged to the late collector and philanthropist Linda Pace will be sold at an auction in November to help fund the creation of a new art space for Pace's foundation in Texas. Christie's will sell Richter's 1992 painting "Abstraktes Bild (774-4)" at a New York auction on Nov. 12. The abstract painting, which Pace acquired shortly after its creation and has rarely been seen in public, is expected to sell for between $14 million and $18 million.  Pace's foundation said that the sale will help fund a new art space to be designed by British architect David Adjaye. Additional funds for the space, to be located in San...

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