Jean-Michel Basquiat Work Sells for $1.27m to Deliver a 7% Annualized Return

Jean-Michel Basquiat, Untitled (1981) sold for $1.27m, more than the low estimate at Phillips in New York on November 19.

The sale beat the previous auction result for this work by $899,400, equivalent to an annualized return of 7%. It last sold at auction in 2007 for $370,600 at Christie's.

Oilstick On Paper, 76.2 x 55.9cm. The work has been traded 6 times in the past.