Henri Matisse Work Sells for $281,900 to Deliver a 5% Annualized Return

Henri Matisse, Sous-bois (1902) sold for $281,900 (EUR252,000), more than two and a half times the low estimate at Christie's in Paris on April 10.

The sale beat the previous auction result for this work by $209,400, equivalent to an annualized return of 5%. It last sold at auction in 1997 for $72,500 at Millon & Associes.

Oil on paper laid down on panel, 24.0 x 31.1cm. The work has been traded twice in the past.