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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