Man Ray Work Sells for $44,100 to Deliver a 0.4% Annualized Return

Man Ray, Bicycle (Shadow drawing) (1971), sold for $44,100 (GBP33,000), more than two and a half times the low estimate at Christie's in London on March 6.

The sale beat the previous auction result for this work by $2,816, equivalent to an annualized return of 0.4%. It last sold at auction in 2010 for $41,300 at Christie's.

Charcoal, felt-tip marker and pencil on coloured paper, 46.5 x 63.0cm. The work has been traded twice in the past.