Ganesh Pyne Work Sells for $3.17m to Deliver a 19% Annualized Return

Ganesh Pyne, Under the Red Cloud (or The Amphibian) (1970), sold for $3.17m (GBP2.37m), more than 11 times the low estimate at Christie's in London on June 11.

The sale beat the previous auction result for this work by $3.14m, equivalent to an annualized return of 19%. It last sold at auction in 1999 for $25,400 at Bonhams.

Tempera on canvas, 51.4 x 57.1cm. The work has been traded 3 times in the past.