The Rothko Market
Leading Sotheby’s Contemporary Art Evening Auction on Tuesday was Mark Rothko’s masterpiece No 1 (Royal Red and Blue), which was the subject of a heated bidding war before being auctioned for US$75.1 million!The price far exceeded the pre-sale estimate of US$35–50 million, but fell short of the record US$86.9 million a Rothko work fetched in May.
Check our graph to see how the Rothko market developed in comparison to artnet C50, the primary index which combines performance data from 50 leading Contemporary artists who best represent the Contemporary Art auction market.Here are some facts about the Rothko market:-Rothko sold four works this year with an average sale price of US$41,291,074.-His work Orange, Red, Yellow sold for US$86,882,496 this past May, becoming his highest selling work at auction.
Rothko Stars at Sotheby’s
Leading the sale was Mark Rothko’s masterpiece No 1 (Royal Red and Blue), which was the subject of a heated bidding war before being auctioned for US$75.1 million!
The price far exceeded the pre-sale estimate of US$35–50 million, but fell short of the record US$86.9 million a Rothko work fetched in May.
Browse more results from Contemporary Art Evening Auction.
Rothko Family Reacts
Following the horrible vandalism of one of Mark Rothko’s iconic Seagram paintings, the artist’s children, Kate Rothko Prizel and Christopher Rothko, responded with this statement:
“The Rothko family is greatly troubled by yesterday’s occurrence but has full confidence that the Tate Gallery will do all in its power to remedy the situation. Our father donated his legendary Seagram paintings to the museum in 1969 sensing the commitment of the institution to his work and impressed by the warm embrace it had received from the British public. We are heartened to have felt that embrace again in the outpouring of distress and support that we and our father have received both directly and in public forums.”
The statement is distributed by the Pace Gallery, which has represented the Rothko estate for several years.
Rothko/Sugimoto: Paintings and Seascapes, the inaugural exhibition at Pace London’s flagship gallery at 6 Burlington Gardens, debuts this Thursday, October 4, 2012!
The concept for the exhibition originated in 2010, when Hiroshi Sugimoto joined Pace and was introduced to Christopher Rothko, the son of Mark Rothko.
Remembering Mark Rothko
Happy birthday Mark Rothko! The artist was born Marcus Rothkowitz on September 25, 1903, in Dvinsk. His family left Russia and settled in Portland, OR, in 1913. Towards the late 1940s and 1950s, he painted the works he is best known for: blocks of color in luminous washes that created large, contemplative forms on canvas. Rothko also spent several years concentrating on works for a chapel in Houston, reinforcing his unwavering belief in the spiritual and emotional qualities of Abstract Art. In 1970, Rothko, who suffered from depression, took his own life.
Pace’s London Residence
New York’s Pace Gallery is set to occupy the west wing of the Royal Academy’s Burlington Gardens building in London.
The gallery’s first show, Rothko/Sugimoto: Dark Paintings and Seascapes, will open just in time for Frieze art fair in October.