Reprise RecordsAn oil painting owned by Eric Clapton has been sold at auction for $34 million, reports the BBC.  The piece, entitled “Abstraktes Bild,” was painted in 1994 by German artist Gerhard Richter, and has been described as a “masterpiece of calculated chaos.”

A round of applause broke out as the painting went under the hammer at Sotheby’s in London on Friday. The artwork, which was expected to sell between $14 million and $19 million, was sold to an anonymous bidder.  The selling price is an auction record for a work by a living artist.

Art experts say Richter is thought by some to be the world’s greatest living painter with “Abstraktes Bild” being called one of the “great abstract masterpieces.”

Even before the $34 million sale, Clapton -- a serious art collector -- was ranked the 17th-richest British musician, according to the Sunday *****, with an estimated wealth of more than $224 million.

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