Mark Rothko Work Sells for $20.8m to Deliver a 5% Annualized Return

Mark Rothko, No. 1 (1949), sold for $20.8m, more than the low estimate at Sotheby's in New York on May 14.

The sale beat the previous auction result for this work by $7.74m, equivalent to an annualized return of 5%. It last sold at auction in 2017 for $13.07m at Christie's.

Oil on canvas, 198.8 x 98.1cm. The work has been traded 7 times in the past.