Frank Stella Work Sells for $3.32m to Deliver a 8% Annualized Return

Frank Stella, Firuzabad III (1970) sold for $3.32m, more than three times the low estimate at Christie's in New York on May 12.

The sale beat the previous auction result for this work by $3.23m, equivalent to an annualized return of 8%. It last sold at auction in 1980 for $90,000 at Christie's.

Polymer and fluorescent polymer paint on shaped canvas, 304.8 x 457.2cm. The work has been traded 3 times in the past.