Andre Lhote Work Sells for $44,100 to Deliver a 5% Annualized Return

Andre Lhote, Le torse à la chaise (1925) sold for $44,100, more than one and a half times the low estimate at Christie's in New York on May 13.

The sale beat the previous auction result for this work by $32,100, equivalent to an annualized return of 5%. It last sold at auction in 2002 for $12,000 at Sotheby's.

Oil on canvas, 56.5 x 41.7cm. The work has been traded 4 times in the past.