David Hockney Work Sells for $205,500 to Deliver a 7% Annualized Return

David Hockney, Deck Gate (2000), sold for $205,500 (GBP154,800), more than one and a half times the low estimate at Phillips in London on October 15.

The sale beat the previous auction result for this work by $150,000, equivalent to an annualized return of 7%. It last sold at auction in 2009 for $55,500 at Sotheby's.

Charcoal on paper, 76.2 x 56.5cm. The work has been traded 4 times in the past.