Auctioned masterpiece could set a record for German painter Georg Baselitz
Sotheby’s has estimated Mit Roter Fahne – or With Red Flag, as it’s known in English – could sell for £6.5m-8.5m when it goes up for auction in March.
If the 1965 painting could command such as price, it could set a new record for German painter Georg Baselitz.
The auction house has witnessed an increase in demand for German contemporary art recently, with a 31 per cent rise in the number of bidders at its auctions worldwide over the last five years.
"Seismic moments of social and political change in history have always created seismic changes in art, something we undoubtedly see in post-war Germany," said Alex Branczik, Sotheby’s head of contemporary art, Europe. "Many of these artists tackled challenging; some might say profound, subject matter, while at the same time creating new visual languages which redefined European art history."