Louis Leopold Boilly Work Sells for $59,100 to Deliver a 11% Annualized Return

Louis Leopold Boilly, Portrait of a Young Man, sold for $59,100 (EUR51,200), more than 17 times the low estimate at Sotheby's in Paris on June 10.

The sale beat the previous auction result for this work by $50,300, equivalent to an annualized return of 11%. It last sold at auction in 2008 for $8,796 at Christie's.

Oil on canvas, 21.8 x 16.6cm. The work has been traded twice in the past.