Microsoft Billionaire Paul Allen Reportedly Sold This Painting For $56.2 Million | Business Insider India

Microsoft Billionaire Paul Allen Reportedly Sold This Painting For $56.2 Million

A painting reportedly owned by Microsoft co-founder Paul Allen sold for an astounding $56.2 million during an auction at Phillips in New York City earlier this week, Bloomberg reports.

The piece was "Untitled (Red, Blue, Orange)," completed by modern artist Mark Rothko in 1955. Rothko works are extremely valuable - a similar painting sold for $66.2 million at Christie's earlier this month.

Allen bought the work for $34.2 million in 2007, and he was guaranteed an undisclosed minimum amount regardless of how much it sold for this week.

The $56.2 million Allen's painting fetched made up for 43% of total sales for the night's auction, which also featured pieces by Andy Warhol and Jean-Michel Basquiat. The night's $132 million total was the auction house's highest tally since November 2010.

According to Bloomberg, many stylish young people were in attendance, including Leonardo DiCaprio and Christie's contemporary art specialist Loic Gouzer.

See Also

More :

Join the discussion with Business Insider

Refrain from posting comments that are obscene, libellous, slanderous or inflammatory, and do not indulge in personal attacks, name calling or inciting hatred against any community. Let's work together to keep the conversation civil.
Please answer this simple math question.

5 + 2 =
Characters Remaining: 3000


Fly the New Feeling- Vistara
Make it Matter – HP
Solutions for the New Style of IT

Editor's Pick

Subscribe for latest stories