Coveted Rothko From Robert Mnuchin's Collection Nets $85.8 Million in New York

"Brown and Blacks in Reds (1957) was estimated at $70 million to $100 million and offered in an 11-lot sale dedicated to material from Mnuchin's collection, ahead of the auction house's the Now and Contemporary art evening auction. The investment banker-turned-gallerist died in December, aged 92."

"At a towering eight feet tall, Brown and Blacks in Reds was painted during Rothko's defining decade, when he developed the stacked fields of color that came to characterize his work. The auction house noted that the canvas is one of 15 large-scale works the artist painted in 1957, most of which are now found in museums. His red paintings are especially popular among collectors."

"The work has a prodigious provenance as well. It once belonged to the liquor empire and its dark, moody palette foreshadowed Rothko's iconic Joseph E. Seagram & Sons,Seagram Murals, a celebrated 30-painting commission for the Seagram Building 's restaurant in 1958 that the artist famously canceled due to his objections to the venue's wealthy clientele. Sotheby's noted that the canvas is one of 15 monumental paintings the artist created in 1957, most of which now reside in museum collections."

"All lots are backed by a guarantee, meaning they are sure to sell. Together, their low estimate tallies to nearly $125 million, which accounts for roughly 38 percent of the total low estimate for the entire evening. (Final sale prices include buyer's fees unless otherwise noted, while estimates do not.)"

Brown and Blacks in Reds (1957) sold at Sotheby’s New York for $74 million, reaching $85.8 million with buyer’s fees. The painting was estimated between $70 million and $100 million and was offered as part of an 11-lot sale featuring works from Robert Mnuchin’s collection. The sale included Modern and post-war works by Willem de Kooning, Pablo Picasso, and Franz Kline, along with another Rothko, No. 1 (1949), estimated at $15 million to $20 million. All lots were backed by guarantees, ensuring sale. Brown and Blacks in Reds is an eight-foot-tall canvas from Rothko’s defining decade, with red paintings described as especially popular among collectors. The work has a notable provenance tied to the liquor empire and connects to Rothko’s later Seagram Murals commission.

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