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The Latest: De Kooning painting fetches record $66.3M in NYC

Associated Press Associated Press 16/11/2016

NEW YORK — The Latest on Christie's sale of contemporary (all times local):

7:45 p.m.

A large painting from one of Willem de Kooning's most productive periods sold for $66.3 million at Christie's auction of contemporary art in New York City.

Tuesday evening's sale of "Untitled XXV" set a new auction record for a work by the abstract expressionist artist.

When the painting was auctioned in 2006, it sold for $27.1 million, setting a record for any work of post-war and contemporary art at the time.

Another major work at the auction was a painting by the German artist Gerhard Richter now owned by British singer-songwriter Eric Clapton. Christie's says "Abstract Painting" fetched just over $20 million.

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2 p.m.

A large painting from one of Willem de Kooning's most productive periods could be sold for as much as $40 million at Christie's auction of contemporary art.

Christie's predicts that "Untitled XXV" will set a new auction record for a work by the abstract expressionist artist at its sale Tuesday evening in New York.

When the painting was auctioned in 2006, it sold for $27.1 million, setting a record for any work of post-war and contemporary art at the time.

Another major work at Tuesday's auction is a painting by the German artist Gerhard Richter now owned by rock star Eric Clapton.

Christie's thinks "Abstract Painting" will sell for around $20 million.

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