The Linda Pace Foundation, which is dedicated to the charitable vision of its founder, the late Linda Pace, will sell Gerhard Richter's 1992 painting "Abstraktes Bild (774-4)" on November 12 in New York. The painting, which has been consigned to Christie’s, is expected to fetch between $14 million and $18 million. Proceeds from the sale will help fund an exhibition space to showcase the Linda Pace Foundation’s growing permanent collection to the public. The British architect David Adjaye has been selected to design the building in San Antonio, Texas, where the foundation is based. Additional funds for the space will come from the foundation.
"Abstraktes Bild (774-4)" is a seminal example of Richter’s multi-layered abstract style, which he began exploring in the late 1980s.
