Whom You Know: Newsflash From Sotheby's: Rothko Sells For $75.1 million

Wednesday, November 14, 2012

Newsflash From Sotheby's: Rothko Sells For $75.1 million

Sotheby’s Evening Sale of Contemporary Art in New York is currently underway and Mark Rothko’s seminal, large-scale masterpiece, No.1 (Royal Red and Blue) has just sold for $75,122,500, well above the high estimate of $50 million, and the second highest price achieved for the artist at auction.

Auctioneer Tobias Meyer hammered down the 1954 painting after a prolonged battle between several bidders. The majestic canvas was one of eight works hand-selected by Rothko for his landmark solo show of the same year at the Art Institute of Chicago. Measuring 113¾ x 67½ in (288.9 x 171.5 cm), No.1 (Royal Red and Blue) has remained in the same collection for 30 years.

Earlier in the evening, a new auction record was set for fellow American Abstract Expressionist Jackson Pollock when his Number 4, 1951 sold for $40,402,500 (est. $25/35 million). The Pollock was one of eight works from a Distinguished American Collection which brought over $100 million and set several additional artist records.

13 November 2012

Lot 19

Mark Rothko

No. 1 (Royal Red and Blue)

1954

oil on canvas

Est. $35/50 million

Sold for $75,122,500

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