Art connoisseurs, namely contemporary art collectors, here is the latest news from the world of modern art. A sunset-colored painting by Mark Rothko has officially become the world’s most expensive contemporary artwork by fetching a cool $86.9 million at Christie’s auction in New York. The artwork, “Orange, red, yellow,” has broken the previous record for Rothko’s most expensive work of $72.84 million and the record for any contemporary work of art at auction, Christie’s said.
This artwork was the largest contributor to the auction’s sales which reached a grand sum of $388.5 million, the highest ever for a contemporary art auction! Besides the masterpiece from Rothko, other pieces that saw bidders vying against each other included the spectacular “FC1” by Yves Klein that fetched $36.5 million and Gerhard Richter’s “Abstraktes Bild” which sold for $21.8 million. However, what amazed me is the sale of a huge candle in the form of an over-sized wax sculpture of art collector Peter Brant, which fetched a bid of $1.3 million! A sculpture that is meant to be lit and melted away! Imagine watching your million dollars melt away in front of you.
On the bright side, this sale indicates that the slump in the contemporary art world is definitely over—time to rejoice.