PETALING JAYA: The Mark Rothko painting once owned by fugitive Low Taek Jho - also known as Jho Low - was sold at auction in Hong Kong on Monday (Nov 11) for US$32.5 million (RM 143.44mil).
This is 30% lower than its price when the 242.9cm by 186.7 cm artwork was last auctioned in 2015, when it was sold for US$46.45mil (RM205.11mil).
According to the Hong-Kong based art media portal The Value, Low had bought the painting in 2013 as one of seven he had bought in a two-month period in that year.
It added that the Rothko painting was one of two bought by Low for USD79.5mil (RM350.96mil).
The yellow-and-blue 1954 painting had gone viral in 2022 because it looked like the Ukrainian flag, and had been sold as a guaranteed lot with an irrevocable bid.
This means that a financial agreement was put in place with a third party ahead of the auction to ensure a sale of "Untitled (Yellow and Blue)".
