in News | 24 MAY 18

Gerhard Richter To Sell €1 Million Worth of Art to House the Homeless

The German artist has put up 18 works for sale to raise money to buy 100 homes

in News | 24 MAY 18

Gerhard Richter, Cage II, 2015. Courtesy: the artist and fiftyfifty gallery

German artist Gerhard Richter has donated 18 of his artworks to fund the building of 100 homes for the homeless in Germany’s North Rhine-Westphalia state. The region currently has 25,000 people listed as homeless. The artworks are expected to fetch more than EUR€1 million which will go towards a project called the Housing First Fund.

The artworks consist of three sets of 2015 abstract, colour offsets from the artist’s ‘Cage f.ff’ series, priced at EUR€420,000. They are available to bid on through Düsseldorf’s fiftyfifty gallery. The gallery has a history of renting to the homeless in Düsseldorf, and is also linked to a local magazine for homeless people. This is the first time they have been able to extend their reach beyond the city.

A previous donation by the artist to a pilot scheme in Düsseldorf in 2015 allowed the gallery to house 53 people. Meanwhile the artist’s fundraising this year will also be bolstered by EUR€424,000 in state funds.

Richter is one of the country’s wealthiest figures, with a fortune estimated at EUR€700 million. He was a professor at the Düsseldorf Art Academy until 1993, but has since relocated to Cologne. You can listen to critic Robert Storr on Richter’s work over here.