The Rothko painting sold for $32.5 million: a record auction in Hong Kong.

The painting by Mark Rothko sold for 32.5 million dollars

In Hong Kong, at a Sotheby's auction, the painting by American artist Mark Rothko 'Untitled (Yellow and Blue)' was sold for 32.5 million dollars. This was the most interesting lot of the evening, with total revenue from the sale of art amounting to 52.6 million dollars, reports ArtNews.

The work was created in 1954 and previously belonged to such notable collectors as American banker Paul Mellon and French businessman François Pinault. In 2015, the painting was sold at a Sotheby's auction in New York for 46.5 million dollars. Later, it was owned by financier Joe Lowe, but after his involvement in financial frauds, the painting was acquired by a new private collector.

Other notable lots at the auction

Among other significant lots at the auction were a hat by Yayoi Kusama, sold for 5.6 million dollars, as well as the canvas 'Red, White and Black' by George Condo (2014), which found a new owner for 2.6 million dollars.

In the USA, a painting by Rembrandt was sold for over $1.4 million

It was previously reported that a painting by Italian Renaissance master Titian, which was once found at a bus stop in London, was sold at auction for a considerable amount.