Joshua Reynolds Work Sells for $28,500 to Deliver a 1% Annualized Return

Joshua Reynolds, Portrait of Charles Pratt, 1st Earl Camden (1714-1794), seated three-quarter-length, in a maroon coat and breeches, holding a book sold for $28,500 (GBP21,600), more than two and a half times the low estimate at Christie's in London on December 3.

The sale beat the previous auction result for this work by $21,400, equivalent to an annualized return of 1%. It last sold at auction in 1928 for $7,156 at Christie's.

Oil on canvas, 128.5 x 102.3cm. The work has been traded twice in the past.