Gerald Laing Work Sells for $135,400 to Deliver a 8% Annualized Return

Gerald Laing, Portrait (1964), sold for $135,400 (GBP102,400), more than the low estimate at Sotheby's in London on October 14.

The sale beat the previous auction result for this work by $97,000, equivalent to an annualized return of 8%. It last sold at auction in 2011 for $38,400 at Shannon's Fine Art Auctioneers.

Oil and pencil on shaped canvas, 59.5 x 40.0cm. The work has been traded 4 times in the past.