Sotheby's sold a Mark Rothko abstract for $75 million on Tuesday in a contemporary-art auction whose total of $375 million surpassed any in its company history. Fittingly, the Rothko painting is titled, "No. 1 (Royal Red & Blue)."
The sale of the 1954 Rothko - with its floating red, pink and blue rectangles - pushed the auction house's sale total over the $362 million it got from a similar evening sale in May 2008 that marked the peak of the last market cycle. It's unclear whether Tuesday's performance amounts to a similar cresting, but in the short term it could boost collectors' confidence in art values especially after last week's disappointing sales of Impressionist and modern art.
$75 Million Rothko Leads Sotheby's Record Setting Sale - Wall Street Journal
Wow! It is breathtaking!
Here's a closer view... note the colors... remarkable! What a genius Rothko was. What a talent!
The bidders... what a sophisticated bunch... highly educated I'm sure!
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