Amedeo Modigliani Work Sells for $72,800 But Delivers a 50% Negative Return

Amedeo Modigliani, Homme à la barbe (1908) sold for $72,800 (GBP53,300), more than one and a half times the low estimate at Sotheby's in London on July 3.

The sale was below the previous auction result by $74,900, realizing a 50% negative return. It last sold at auction in 2007 for $147,700 at Sotheby's.

Brush and ink and pencil on paper, 42.5 x 26.1cm. The work has been traded 3 times in the past.