George Grosz Work Sells for $61,500 to Deliver a 5% Annualized Return

George Grosz, Die wahre Jakobsleiter (1924) sold for $61,500 (EUR54,600), more than one and a half times the low estimate at Dorotheum in Vienna on May 20.

The sale beat the previous auction result for this work by $57,100, equivalent to an annualized return of 5%. It last sold at auction in 1977 for $4,400 at Christie's.

Red pen, pen, ink and white gouache on paper, 78.0 x 58.0cm. The work has been traded 4 times in the past.