Once Owned By Jho Low, This Rothko Painting Is Looking For A New Home
Jho Low, the financier on the run, implicated in a massive money-laundering scandal, acquired the painting in 2013.
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The upcoming sale of Mark Rothko painting at Sotheby’s Hong Kong, once owned by Low Taek Jho or Jho Low is a significant event in the art world, not just for its potential record-breaking price but also for the complex history behind the artwork.
Jho Low, the financier on the run, implicated in a massive money-laundering scandal, acquired the painting in 2013.
According to Artnet, the work, titled “Untitled (Yellow and Blue),” is a vibrant and striking piece that has been exhibited in prestigious galleries around the world.
The painting’s journey from Low’s possession to the auction block is a reflection of the tumultuous events surrounding the 1MDB scandal.
The Malaysian government accused Low of embezzling billions of dollars from the 1MDB development fund, using the money to purchase luxury assets, including the Rothko.
The painting’s sale at Sotheby’s is not only a testament to the enduring appeal of Rothko’s work but also a reminder of the darker side of wealth and privilege.
The fact that such a valuable piece of art was acquired through illicit means raises questions about the ethical implications of the art market.
The painting was previously owned by:
- Paul and Bunny Mellon: American philanthropists who acquired it around 1970-71.
- Francois Pinault: French luxury mogul and owner of Christie’s.
- Jho Low
- Farkhad Akhmedov: Azerbaijani-Russian billionaire who purchased it at Sotheby’s in 2015 at a final price of US$46,450,000.
Who is Mark Rothko and what is Untitled (Yellow and Blue)?
According to markrothko.org, this work is one of his “simpler compositions”.
At a glance, it does look like something anyone with a brush and canvas can paint.
It’s literally just two blocks of colours, yellow and blue.
What makes it stand out probably is that it stands at over 2 metres tall.
This grand size was a key element of the artist’s desire to shock and excite viewers, as the canvas would stretch beyond their peripheral vision and essentially engulf them into his world of colour.
MarkRothko.org
Rothko was a prominent American painter of the Abstract Expressionist movement.
Born in Russia in 1903, he immigrated to the United States as a young child.
Rothko is renowned for his large-scale, colourful rectangular paintings, which often evoke strong emotional responses.
His work is characterized by soft-edged, floating rectangles of colour that seem to merge and blend together.
Rothko believed his paintings should evoke a contemplative and meditative experience in the viewer.
His work is often associated with themes of tragedy, loss, and the human condition.
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