Edgar Degas Work Sells for $1.46m to Deliver a 5% Annualized Return

Edgar Degas, Deux danseuses (1891), sold for $1.46m (GBP1.09m), more than the low estimate at Sotheby's in London on March 4.

The sale beat the previous auction result for this work by $1.31m, equivalent to an annualized return of 5%. It last sold at auction in 1979 for $150,000 at Christie's.

Pastel on tracing paper mounted on card, 79.4 x 44.8cm. The work has been traded 9 times in the past.