Better known as a prolific donor — especially to his cherished Museum of Modern Art — David Rockefeller has decided to throw his hat into the auction arena, selling a seminal painting by Mark Rothko for what the art auction house hopes will be more than $40 million. The New York Times reports that, with prices for Abstract Expressionist works hitting new highs, Mr. Rockefeller has consigned “White Center (Yellow, Pink and Lavender on Rose),” a 1950 canvas, to Sotheby’s for its May 15 sale of contemporary art. Sotheby’s $40 million estimate is nearly twice the previous auction record for a Rothko painting — $22.4 million, set at Christie’s in 2005 — and is clearly a gamble that the Rockefeller name will make the painting more valuable. The painting is a particularly sensuous example of Rothko’s abstract work during his most important years. Mr. Rockefeller has owned the painting since 1960, when he bought it for less than $10,000. Mr. Rockefeller’s name is most closely associated with his gifts to MoMA, including a $100 million pledge, the largest cash gift in that art institution’s history, in April 2005. He has also bolstered the museum’s holdings by donating priceless paintings, sculptures and drawings by masters including Cézanne, Gauguin, Matisse and Picasso. (For full source and article click the Headline).
Irish Art
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Thursday
Rockefeller Sells $40m Rothko
Better known as a prolific donor — especially to his cherished Museum of Modern Art — David Rockefeller has decided to throw his hat into the auction arena, selling a seminal painting by Mark Rothko for what the art auction house hopes will be more than $40 million. The New York Times reports that, with prices for Abstract Expressionist works hitting new highs, Mr. Rockefeller has consigned “White Center (Yellow, Pink and Lavender on Rose),” a 1950 canvas, to Sotheby’s for its May 15 sale of contemporary art. Sotheby’s $40 million estimate is nearly twice the previous auction record for a Rothko painting — $22.4 million, set at Christie’s in 2005 — and is clearly a gamble that the Rockefeller name will make the painting more valuable. The painting is a particularly sensuous example of Rothko’s abstract work during his most important years. Mr. Rockefeller has owned the painting since 1960, when he bought it for less than $10,000. Mr. Rockefeller’s name is most closely associated with his gifts to MoMA, including a $100 million pledge, the largest cash gift in that art institution’s history, in April 2005. He has also bolstered the museum’s holdings by donating priceless paintings, sculptures and drawings by masters including Cézanne, Gauguin, Matisse and Picasso. (For full source and article click the Headline).
Irish Art
