It was announced yesterday (Monday, 23rd September) that Mark Rothko’s yellow and blue painting titled “Untitled” will soon be auctioned at the Sotheby’s in Hong Kong this coming November. The painting was once owned by an infamous Malaysian businessman, Jho Low, and would be the first Rothko’s oil painting to be auctioned in Asia.
This 1954 piece with its simple abstract colours was last auctioned in 2015 at Sotheby’s New York for the price of USD$46.5 million (RM195 million). The painting is valued between USD$30 million (approximately RM126 million) and USD$45 million (RM189 million), and despite its price and simplicity, it has previously been owned by many.
Standing over 2 metres in height, this oil painting was first owned by American philanthropists Paul and Bunny Mellon from 1970 to 1971, after the death of Rothko. It was then sold privately to French businessman, François Pinault. In 2013, “Untitled” was added to Jho Low’s art collection, which was confiscated by the US Department of Justice (DoJ) due to his involvement in the 1Malaysia Development Bhd (1MDB) scandal. His collection also included other luxury artworks, including ones by Claude Monet and Andy Warhol, which were also seized by DoJ.
The painting was last purchased by Azerbaijani-Russian billionaire, Farhad Armedov, in 2015 for USD$46,450,000 (RM194 million). The abstract yellow and blue painting, which has been exhibited in renowned galleries around the world, will be auctioned off on 8th November 2024 at the Sotheby’s Maison, located in the Landmark Chater Mall in Hong Kong’s Central District.
Sotheby’s also posted on their official Instagram page regarding the auction of the painting. As expected, there were mixed reactions and comments from netizens. Some expressed their excitement as it resembled the inverted version of the Ukrainian flag. Others were fascinated by how the painting was exhibited with a black wall that helped bring out the contrast of the painting. Netizens also suggested that the painting should be sold at IKEA because of its simplicity.
Meanwhile, on Facebook, some Malaysians also expressed their reactions towards the auction of the painting. One proudly claimed that it looked like the Perlis flag, and many claimed that the auction was a part of a money laundering process.
What do you think about this issue? Is the painting worth exhibiting, or is it too basic to be auctioned for a high price?
Sources: Instagram, MalayMail, Facebook
Tiana contributed to this article.
