A Mark Rothko painting owned by Microsoft Corp. (MSFT) co-founder and billionaire Paul Allen helped boutique auctioneer Phillips sell $132 million worth of art, capping two weeks of marathon sales in New York.
Estimated at $50 million to $60 million, “Untitled (Red, Blue, Orange)” attracted bids yesterday from four staffers competing on behalf of clients. August Uribe, senior director and worldwide co-head of contemporary art at Phillips, placed the winning bid of $50 million, or $56.2 million with fees.
