A 1951 drip painting by Jackson Pollock sold for $40.4 million at Sotheby’s (BID) in New York tonight, setting an auction record for the Abstract Expressionist artist (1912-1956).
It was soon topped by Mark Rothko’s “No. 1 (Royal Red and Blue),” which sold for $75.1 million, against the presale estimate of $35 million to $50 million. Rothko’s auction record of $86.9 million was set at Christie’s in May....WTF!!