Joan Mitchell Work Sells for $2m to Deliver a 13% Annualized Return

Joan Mitchell, Petit Matin (1982) sold for $2m, more than twice the low estimate at Sotheby's in New York on May 16.

The sale beat the previous auction result for this work by $1.74m, equivalent to an annualized return of 13%. It last sold at auction in 2009 for $262,900 at Heritage Auctions.

Oil on canvas, 61.0 x 45.7cm. The work has been traded 5 times in the past.