A highly coveted painting by Mark Rothko has sold for $75.1 million at auction in New York. "No. 1 (Royal Red and Blue)," which the artist created in 1954, didn't break a record, but it did command the second highest price ever for a Rothko, according to
The auction house had expected the painting to bring in between $35 million and $50 million. The painting had been in the collection of former Sotheby's president John Marion since 1982, according to the
In May, another Rothko painting, "Orange, Red, Yellow," sold for $87 million at a Christie's auction, setting a record for the artist.
On Tuesday, Sotheby's also auctioned off a Jackson Pollock drip painting for $40.4 million. "Number 4 (1951)" came from the collection of Sidney Kohl, a financier, and his wife. Bloomberg reported that Kohl purchased the painting in 1974 for just $105,000.
A "pope" painting by Francis Bacon brought in $29.8 million and a Willem de Kooning painting "Abstraction" sold for $19.7 million at the same auction.