Ivon Hitchens Work Sells for $110,900 to Deliver a 2% Annualized Return

Ivon Hitchens, River at Avington No. 4 (1965), sold for $110,900 (GBP83,200), more than the low estimate at Sotheby's in London on March 5.

The sale beat the previous auction result for this work by $31,500, equivalent to an annualized return of 2%. It last sold at auction in 2012 for $79,400 at Sotheby's.

Oil on canvas, 45.4 x 117.0cm. The work has been traded twice in the past.