Gerhard Richter, one of the world's most renowned artists, has had a humble beginning - literally. For 15 years, his masterpiece 'Domplatz, Mailand (Cathedral Square, Milan)' hung in the lobby of Park Hyatt Chicago, a hotel that's more known for its sleek design and modern amenities than for showcasing fine art. The painting, valued at $3.6 million when it was bought by the hotel in 2000, caught the eye of few visitors and seemed out of place among the generic mass-produced canvases that are commonly found on hotel walls.
In a stunning turn of events, the painting was sold to an anonymous buyer for $37.1 million in 2013, setting a record for a living artist at the time. It's hard not to wonder who could have been interested in such a valuable piece and why it was traded in for another artwork, valued at a mere $1 million.
The painting that now hangs in the lobby is actually a work by Richard Prince, an American artist known for his bold style and unapologetic use of pop culture icons. The 'Not a Basquiat', as some of the hotel staff affectionately call it, has become a bit of a conversation starter among guests who, surprisingly, still mistake it for a work by Jean-Michel Basquiat.
This raises questions about the value placed on art and the decision-making process behind buying and selling masterpieces. Was it simply a case of 'one upmanship', where the buyer wanted to outdo previous owners in terms of prestige and value? Or was there something more at play?
One thing is certain, however - Gerhard Richter's 'Domplatz, Mailand' has finally found its rightful place back with its creator. It may be hard to believe that one of the most expensive paintings ever sold by a living artist once hung in an unlikely location like Park Hyatt Chicago. Yet here we are, pondering what could have been and what might happen next in this wild world of art sales and auctions.
In a stunning turn of events, the painting was sold to an anonymous buyer for $37.1 million in 2013, setting a record for a living artist at the time. It's hard not to wonder who could have been interested in such a valuable piece and why it was traded in for another artwork, valued at a mere $1 million.
The painting that now hangs in the lobby is actually a work by Richard Prince, an American artist known for his bold style and unapologetic use of pop culture icons. The 'Not a Basquiat', as some of the hotel staff affectionately call it, has become a bit of a conversation starter among guests who, surprisingly, still mistake it for a work by Jean-Michel Basquiat.
This raises questions about the value placed on art and the decision-making process behind buying and selling masterpieces. Was it simply a case of 'one upmanship', where the buyer wanted to outdo previous owners in terms of prestige and value? Or was there something more at play?
One thing is certain, however - Gerhard Richter's 'Domplatz, Mailand' has finally found its rightful place back with its creator. It may be hard to believe that one of the most expensive paintings ever sold by a living artist once hung in an unlikely location like Park Hyatt Chicago. Yet here we are, pondering what could have been and what might happen next in this wild world of art sales and auctions.
And it's wild that people still mistake Richard Prince's work for Basquiat's - that says a lot about how art can be misinterpreted and devalued if it doesn't come with a big price tag. The fact that Richter's painting is finally back where it belongs is definitely a nice story, but it also makes you wonder what could've been if it had stayed in the hotel lobby all those years... 
I mean, can you even believe that Gerhard Richter's masterpiece was just chillin' in a hotel lobby for 15 years?! 
It's crazy to think about how little attention it got amidst all the other generic artwork 
. And then it gets sold for $37.1 million? That's wild! 
Like, maybe they just really loved the painting and didn't care about the previous price tag? 
The 'Not a Basquiat' might seem like an unlikely piece of art at first glance, but hey, sometimes the most unexpected things can become the most meaningful. 
... but at the same time, I wonder if he even likes having a $37 million painting hanging in his living room 
... like, can you imagine the art critics showing up to review some dude's interior design? 
.
. But what really gets me is why they traded it in for another artwork, valued at just $1 million 
. And poor Richard Prince's 'Not a Basquiat' 
. Anyway, I'm glad Richter's painting is back where it belongs 
. But hey, at least Gerhard Richter's 'Domplatz, Mailand' is back where it belongs - with its creator