Balthus Work Sells for $678,300 to Deliver a 12% Annualized Return

Balthus, Le Vase bleu (1963), sold for $678,300 (GBP512,000), more than three times the low estimate at Sotheby's in London on June 24.

The sale beat the previous auction result for this work by $322,000, equivalent to an annualized return of 12%. It last sold at auction in 2020 for $356,300 at Artcurial.

Oil and sand on canvas, 89.5 x 69.9cm. The work has been traded 3 times in the past.