Ben Nicholson Work Sells for $390,100 to Deliver a 5% Annualized Return

Ben Nicholson, 1940 (painted relief - version 1) (1940), sold for $390,100 (GBP292,100), more than one and a half times the low estimate at Christie's in London on March 18.

The sale beat the previous auction result for this work by $350,100, equivalent to an annualized return of 5%. It last sold at auction in 1983 for $40,000 at Christie's.

Oil on carved board, in the artist's frame, 52.7 x 50.1cm. The work has been traded 3 times in the past.