This painting just sold for $46.5 million at Sotheby’s in New York

Sotheby’s notes on its website that “few 20th-century masters have inspired greater awe and reverence in their followers than” Rothko.

A Mark Rothko painting sold for $46.5 million at a Sotheby’s auction in New York, an evening in which several records were set including one for a work by German artist Sigmar Polke.

The Rothko work “Untitled, (Yellow and Blue),” measuring 2.42 meters by 1.86 meters (about 8 feet by 6.1 feet) and completed in 1954, had been estimated at between $40 million and $60 million.

The painting was once owned by American socialite Rachel “Bunny” Mellon, according to Bloomberg.

Rothko was one of the most successful and famous artists in America before he killed himself in 1970, The Guardian notes.

Sotheby’s notes on its website that “few 20th-century masters have inspired greater awe and reverence in their followers than” Rothko.

“Yellow and Blue” was one of the star pieces of this evening of auctions of contemporary works, including one by Roy Lichtenstein titled “The Ring.” Sotheby’s had expected it would go for $50 million, but in the end it sold for $41.69 million.

Another highlight of the sale, “Abstraktes Bild” by Germany’s Gerhard Richter, was auctioned for $28.25 million, just under its presale estimate of $30 million.

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