Ben Nicholson Work Sells for $2.2m to Deliver a 5% Annualized Return

Ben Nicholson, 1934 (relief) (1934), sold for $2.2m (GBP1.66m), more than one and a half times the low estimate at Christie's in London on October 14.

The sale beat the previous auction result for this work by $1.91m, equivalent to an annualized return of 5%. It last sold at auction in 1987 for $292,100 at Christie's.

Oil on carved wood, relief, on the artist's prepared board, in the artist's frame, 55.9 x 80.7cm. The work has been traded 3 times in the past.