Ivan Konstantinovich Aivazovsky Work Sells for $732,200 to Deliver a 14% Annualized Return

Ivan Konstantinovich Aivazovsky, Shipwreck on a rocky coast (1872), sold for $732,200 (CHF580,000), more than three times the low estimate at Koller Auktionen in Zurich on March 27.

The sale beat the previous auction result for this work by $461,500, equivalent to an annualized return of 14%. It last sold at auction in 2018 for $270,700 at Bonhams.

Oil on canvas, 46.5 x 72.0cm. The work has been traded twice in the past.