Arie Smit Work Sells for $105,400 to Deliver a 3% Annualized Return

Arie Smit, Tangkolak (1959), sold for $105,400 (HKD825,500), more than two and a half times the low estimate at Christie's in Hong Kong on March 28.

The sale beat the previous auction result for this work by $59,200, equivalent to an annualized return of 3%. It last sold at auction in 2004 for $46,200 at Christie's.

Oil on canvas, 62.0 x 86.0cm. The work has been traded 3 times in the past.