$75m Rothko leads record Sotheby's auctionBreaking News
Sotheby's sold a Mark Rothko abstract for $75 million on Tuesday in a contemporary-art auction whose total—$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.
The sellers of the Rothko, John Marion, a former Sotheby's president, and his oil-heiress wife, Anne, only expected their painting to sell for up to $50 million. But at least five bidders chased after the abstract, and bids came quickly for a few minutes before the competition slowed to a pair of dogged telephone bidders. The winning bid was ultimately fielded by Charlie Moffett, a Sotheby's specialist who typically works with American collectors....
comments powered by Disqus
- How Clinton Could Respond on Supreme Court Vacancy
- Trump and Clinton Way Ahead in South Carolina
- McConnell Says Senate Will Wait to Replace Scalia
- Antonin Scalia Is Dead
- Clinton Says Sanders Would Be Threat to Obama Legacy
- Internal Tracker Shows Trump Leading in South Carolina
- How the Primaries are Rigged Against Sanders
- Carson Sees Fundraising Resurgence
- Trump Has GOP Mega Donors Frozen
- Quote of the Day
- Top GOP Candidates Haven’t Released Tax Returns
- Trump Attack Ads Finally Begin
- Super PACs Gear Up for Clinton
- Cruz App Mines Data from Your Phone
- Trump Way Ahead in South Carolina
- Ben Carson used an apparently fake Joseph Stalin quote — and the Internet loved it
- Rubio exaggerates in saying it's been 80 years since a 'lame duck' made a Supreme Court nomination
- Humans Hard-Wired to Teach, Anthropologist Says
- Parents outraged after students shown ‘white guilt’ cartoon for Black History Month
- Maryland is once again considering retiring its state song
- Historian at the center of Sanders-Clinton debate
- James Loewen Says Additional Baltimore Confederate Statues Should be Removed
- NYT History Book Reviews: Who Got Noticed this Week?
- A historian’s advice to students thinking of getting a PhD in a tough economic climate
- German historian Heinz Richter cleared of charges