Focus on this artwork and explore the 2012 auction.
The work surpassed the 2007 record price for a Rothko work of $72.8 million set when David Rockefeller sold White Center (Yellow, Pink and Lavender on Rose). The hammer price was $77.5 million, and the price was $86.8 million including buyer's premium. It established a new record for post-war/contemporary art at a public auction, when ignoring inflation. The highest price paid for a post-war painting in a private sale is believed to be $140 million (~$160 million in May 2012 dollars) for Jackson Pollock's No. 5, 1948 in November 2006. In constant dollars, the record price for post-war art at a public auction remained with Triptych, 1976 by Francis Bacon, sold at Sotheby's for $86.3 million in May 2008 (~$92 million in May 2012 dollars).
The price for Rothko's painting was expected to top out near $45 million based on presale estimates. When the record-setting 2012 auction price reached $70 million, three bidders remained competitive. The bidding extended for over six and a half minutes, which is "...one of the longest bidding matches yet witnessed in a contemporary art sale."
No. 5, 1948 Francis Bacon White Center (Yellow, Pink and Lavender on Rose) Jackson Pollock David Rockefeller hammer price contemporary art Sotheby's highest price paid constant dollar