Fernand Leger Work Sells for $7.06m to Deliver a 3% Annualized Return

Fernand Leger, Le siphon (1924), sold for $7.06m (GBP5.34m), more than one 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 $3.8m, equivalent to an annualized return of 3%. It last sold at auction in 2002 for $3.26m at Sotheby's.

Oil on canvas, 91.8 x 60.0cm. The work has been traded 6 times in the past.