Phillips is claiming to have set a record for the highest price paid for a Latin American artist’s work, after selling a Diego Rivera piece for $15.7 million in a private transaction.  “This is, by my estimation, the best easel painting in private hands outside of Mexico, a celebration of indigenous culture,” said August Uribe, Phillips’s deputy chairman of the Americas. “Rivera made a purposeful break from European modernism to create a national identity through the visual arts.”

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