Its price is estimated at more than 10 million euros … a canvas by the German painter Gerhard Richter was acquired by the city of Saint-Priest in 1988 for the sum of 100,000 francs, or 15,000 euros.
“It is a source of pride for the town of Saint-Priest to own a masterpiece of this value. It was a nice surprise,” explains Gilles Gascon, the mayor of the city.
The municipal council of Saint-Priest debated Thursday evening, November 18, 2021, the fate of a painting by the German painter Gerhard Richter which had been in the art library for more than 30 years. This oil on canvas made in 1987 and bought at the time for 100,000 francs (the equivalent of 15,000 euros) by the town is now worth a small fortune. The painter’s coast has climbed and the work, intitulée “Abstract Image 630-2”, is worth more than ten million euros today.
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“Gerhard Richter is a living painter who has one of the highest ratings in the world today. The latest sales of his latest works have reached world records. I hope we can be part of those works of art that will be able to reach new heights, “ explains Gilles Gascon, mayor of Saint-Priest.
The small town of Saint-Priest has held this oil on canvas for thirty years. The originator of the purchase: Robert Rivière, former cultural assistant. At the time, he made the bet to energize the municipality through Art. “We wanted to develop Saint-Priest. We were convinced of this, to develop a city, it had to be made known and for that, it had to be given a history, values and prestige through cultural action”. This strategy had a double advantage according to the former assistant, it allowed “to open the city to the outside” all “by bringing culture “.
He is one of the technical advisers of the time, “connoisseur of contemporary art” and university professor specializing in industrial archeology, who had drawn his attention to this particular work by Richter.
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The city of Saint-Priest decided to sell the painting which could not remain in the artothèque. “The place of art is not in a safe. However, in view of the first estimate which was made of this painting, it was important to put it in safety in the safe from a Lyon bank, “ explained Gilles Gascon. Securing this treasure comes at a cost. “The there are rather specific storage conditions. The annual bill is quite substantial, “ summarizes the city councilor.
The decision to auction this painting was debated in city council Thursday evening. The sale was approved by majority. Only three opposition advisers spoke out against this decision: two environmental advisers and one adviser France Insoumise. The sale will take place in a few months. However, the benefit of the auction will go back to culture. The commune promised it. The money will be invested in particular in the renovation of the Théo Argence theater, but also in the creation of a new cinema or the expansion of the conservatory.
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