Paul Allen, co-founder of Microsoft and owner of the Portland Trail Blazers and Seattle Seahawks, has sold a 1953 painting for $43.8 million at a New York City auction, according to reports.
The sale of the large 1953 painting by abstract expressionist artist Barnett Newman set an auction record for his work.
Sotheby's said Tuesday the record price for "Onement VI" includes the buyer's premium.
The painting is the last of six in Newman's Onement series. They're characterized by what's called the zip, a distinctive stripe running down the center of the canvas. Four are in museum collections.
"Onement V" sold at auction last year for $22.4 million, the artist's previous auction record.
Newman was an exhibitions organizer of the newly opened Betty Parson Gallery in 1946. He played a vital role in the careers of Mark Rothko, Jackson Pollock and others. He also influenced the next generation of artists including Frank Stella.
Newman died in 1970.
Copyright 2013 KPTV-KPDX Broadcasting Corporation. All rights reserved. The Associated Press contributed to this report.