Jul

14

Determining what art will be valuable 10 to 50 years from now is a very speculative endeavor but evidently a Rothko painting was identified early on as a good investment by Fortune magazine:

Rothko had one-man shows at the Betty Parsons Gallery in 1950 and 1951, and at other galleries across the world, including Japan, São Paulo and Amsterdam. The 1952 "Fifteen Americans" show curated by Dorothy Canning Miller at the Museum of Modern Art formally heralded the abstract artists, including works by Jackson Pollock and William Baziotes. It also created a dispute between Rothko and Barnett Newman, after Newman accused Rothko of having attempted to exclude him from the show. Growing success as a group led to infighting, and claims to supremacy and leadership. When "Fortune" magazine named a Rothko painting as a good investment, Newman and Still, out of jealousy, branded him a sell-out, secretly possessing bourgeois aspirations. Still wrote to Rothko to request the paintings he had given Rothko over the years. Rothko was deeply depressed by his former friends’ jealousy.

Here is a very interesting story from Mr. Sosnoff at Forbes in which he almost buys a Rothko after returning from the Korean War and now sees today's growth stocks as a better value compared to prices for "blue chip" art.


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