A Gerhard Richter abstract painting sold Tuesday night at Sotheby’s contemporary art auction in London for £30.4 million, or about $46.3 million, including fees.

The monumental, 10-foot high canvas, “Abstraktes Bild,” numbered 599 and painted with veils of red, blue and green pigment, was bought by a telephone bidder, represented by Cheyenne Westphal, Sotheby’s worldwide co-head of contemporary art, after lengthy competition from another telephone bidder.