Liu Ye Work Sells for $261,200 to Deliver a 6% Annualized Return

Liu Ye, Girl with Mondrian 女孩與蒙德里安 (2004) sold for $261,200 (HKD2.03m), more than two and a half times the low estimate at Sotheby's in Hong Kong on March 30.

The sale beat the previous auction result for this work by $167,800, equivalent to an annualized return of 6%. It last sold at auction in 2008 for $93,400 at Sotheby's.

Watercolour On Paper, 47.8 x 47.5cm. The work has been traded twice in the past.