"Mark Rothko Painting Crowns New York Art Sale":

A painting by abstract artist Mark Rothko has fetched $75.1 million (£47.2m) at an auction in New York.

"If you want to talk about the market being happy, healthy and well, here it is," said Sotheby's auctioneer Tobias Meyer, worldwide head of contemporary art.

"That's probably about as good as it gets." Further high prices are expected at a second Sotheby's contemporary and post-war art sale on Wednesday, with two Christie's sales focusing on the same period also taking place in New York this week.





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3 Comments so far

  1. Ed on November 14, 2012 4:33 pm

    A status game for the ultra-rich that has devolved into a “greater” sucker pyramid scheme. Nothing beyond that.

    It will all end with a a large number of convenient “lightning strikes” at fully insured warehouses that store this cr*p.

  2. astro the family dog on November 14, 2012 9:18 pm

    Oh yes..’art’….as it is called.

    The eyes of the beholder…here, see what others cannot obviously…ever see indeed!

    And, “what is obvious is obviously wrong”.

    And, most suggests the cooks are in Wall Street, I beg to differ on that.

    “enjoy’ beholder…as he has had the last laugh.. :)

  3. Abdullah on November 16, 2012 6:51 pm

    It would be interesting to know if the recent defacing of Rothkos’ ‘Black on Maroon’ last month had anything to do with this buoyancy? Perhaps there is a fear of yellowism sentiment in the market…


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