David Hockney's Chair Sells for $4.98m to Deliver a 8% Annualized Return

David Hockney, The Chair (1985), sold for $4.98m (HKD38.93m), more than the low estimate at Christie's in Hong Kong on March 27.

The sale beat the previous auction result for this work by $1.6m, equivalent to an annualized return of 8%. It last sold at auction in 2021 for $3.38m at Sotheby's.

Oil on canvas, 121.9 x 91.4cm. The work has been traded 4 times in the past.