A seminal abstract painting by Mark Rothko fetched a huge $75.1 million at Sotheby’s in New York, while a new record was set for a Jackson Pollock drip painting on a night when the big spenders of the art world were out in force.
“No. 1 (Royal Red and Blue)” is seen by critics as one of the finest examples of Rothko’s characteristic style — a seemingly simple, but arresting juxtaposition of blocks of color.
The work described by Sotheby’s as Rothko’s “seminal, large-scale masterpiece” had been in the same collection for 30 years before coming to market.
Tuesday’s winning bid, reached after a prolonged bidding battle, was short of the record $86.9 million paid for Rothko’s “Orange, Red, Yellow” in New York at Christie’s in May. But it was far over the pre-sale $35-50 million estimate and highlighted a contemporary art auction full of big prizes.
Jackson Pollock’s “Number 4, 1951,” estimated at $25-35 million, sold for $40.4 million, an auction record for the abstract expressionist.
Gerhad Richter’s “Abstraktes Bild” sold for $17.4 million, and Willem de Kooning’s “Abstraction” sold for $19.7 million, compared to the pre-sale estimates of $15-20 million.
Rothko painting sells for $75.1 mn in New York
