A painting by Barnett Newman set an artist record at auction on Tuesday, selling for $43.8 million in New York.
The sale was part of a larger auction of contemporary art that brought in a total of $293.6 million, on the low end of expectations. The sale included an auction record for
The Newman painting was created in 1953. [Updated] The painting was being sold by
It once belonged to Frederick Weisman, the late Los Angeles art collector whose foundation still runs tours of the family's private collection in L.A. Weisman acquired the painting in 1961, according to Sotheby's. The piece was subsequently sold to other individuals.
Sotheby's didn't reveal the buyer, but the