Rothko's 'Brown and Blacks in Reds' Fetches $86M at Sotheby's
At Sotheby's, Mark Rothko's 1957 artwork 'Brown and Blacks in Reds' fetched an impressive $86 million, significantly surpassing its 2003 acquisition cost of $6.7 million. The painting was sold by the estate of Robert Mnuchin, a former Goldman Sachs banker who transitioned to art dealing. An anonymous bidder on the phone secured the winning offer. This transaction highlights the persistent strong interest in Rothko's abstract expressionist pieces within the auction scene.
Key facts
- Mark Rothko's 1957 painting 'Brown and Blacks in Reds' sold for $86 million.
- The seller was the estate of Robert Mnuchin, former Goldman Sachs banker and art dealer.
- Mnuchin paid $6.7 million for the work in 2003.
- The winning bidder was anonymous and bid by telephone.
- The sale took place at Sotheby's.
- The painting is an abstract expressionist work from Rothko's mature period.
- The sale price represents a significant return on investment.
- The auction highlights the strength of the high-end art market.
Entities
Artists
- Mark Rothko
- Robert Mnuchin
Institutions
- Sotheby's
- Goldman Sachs