Fernand Leger Work Sells for $236,900 to Deliver a 2% Annualized Return

Fernand Leger, Le siphon (1924), sold for $236,900 (GBP179,200), more than two and a half times the low estimate at Christie's in London on October 14.

The sale beat the previous auction result for this work by $126,900, equivalent to an annualized return of 2%. It last sold at auction in 1992 for $110,000 at Christie's.

Watercolour, pen and ink and pencil on paper, 26.5 x 18.2cm. The work has been traded 3 times in the past.