Ed Ruscha Work Sells for $13.65m to Deliver a 12% Annualized Return

Ed Ruscha, Georges' Flag (1999) sold for $13.65m, more than one and a half times the low estimate at Sotheby's in New York on November 20.

The sale beat the previous auction result for this work by $12.25m, equivalent to an annualized return of 12%. It last sold at auction in 2005 for $1.4m at Christie's.

Oil On Canvas, 96.5 x 328.0cm. The work has been traded 3 times in the past.