Eric Clapton is planning on auctioning off an abstract piece of art done by a German artist named Gerhard Richter. The auction is scheduled to take place at Sotheby's next month, sources say.
The painting could sell for as much as $19 million, which would be a substantial profit for Clapton since he bought the painting back in 2001 for only $3.4 million. Clapton will put the art piece up at London's contemporary art evening auction on October 12.
Clapton is no stranger to auctions, last year; he sold over 70 instruments of his, amplifiers and memorabilia. In the end he raised $2.15 million for the Crossroads Center, which is a drug and alcohol rehab facility in Antigua which he co-founded.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.