Phillips Hosts Private Richter Sale at $95M Exhibit

The video discusses the largest private sales exhibition by Phillips, featuring Gerhard Richter's works valued at $95 million. It explains the concept of private sales, contrasting them with auctions, and highlights the unusual timing of the event in January. The video explores trends in private sales, noting their importance for auction houses like Christies and Sotheby's. It delves into Gerhard Richter's market appeal, his background, and the significance of his works. The video concludes with insights into the art market's current state and the strategic focus on Richter's pieces.

What is the significance of the artwork sold for $21.4 million two years ago, and what is its current asking price?

What trends are currently observed in the art market regarding private sales?