HONG KONG, Nov 12 — A Mark Rothko painting, Untitled (Yellow and Blue) (1954), once owned by Low Taek Jho, sold for HK$252.5 million (approximately RM143.81 million) at Sotheby’s Hong Kong yesterday.
The painting was originally purchased by the fugitive financier known as Jho Low in 2013 as part of a collection of seven Rothko works.
According to Hong Kong art media portal The Value, the painting fetched 30 per cent less than its 2015 auction price of US$46.45 million.
Despite this, yesterday’s sale made the painting the fourth-most expensive Western artwork sold at auction in Asia.
Part of the auction house’s inaugural Modern and Contemporary Evening Auction at its new Maison in Landmark Chater, the painting attracted intense bidding before a room bidder secured it for HK$252.5 million, including fees.
The sale is also notable for the painting’s provenance, having passed through the hands of figures linked to both global wealth and scandal, including Low, who is wanted in connection with the multibillion-dollar 1MDB fraud case, and a Russian oligarch, who made headlines after agreeing to the world’s largest divorce settlement with his ex-wife.
In 2022, the painting gained attention for its resemblance to the Ukrainian flag.
