Edgar Degas Work Sells for $571,500 to Deliver a 5% Annualized Return

Edgar Degas, Deux cavaliers (1881), sold for $571,500, more than seven times the low estimate at Christie's in New York on May 19.

The sale beat the previous auction result for this work by $530,200, equivalent to an annualized return of 5%. It last sold at auction in 1973 for $41,300 at Christie's.

Pastel and charcoal on paper, 33.0 x 24.1cm. The work has been traded 10 times in the past.