Marie Laurencin Work Sells for $55,200 to Deliver a 3% Annualized Return

Marie Laurencin, Michèle Manet en petite princesse de théâtre (1946), sold for $55,200 (JPY8.97m), more than one and a half times the low estimate at Mainichi Auction Inc. in Tokyo on July 18.

The sale beat the previous auction result for this work by $48,000, equivalent to an annualized return of 3%. It last sold at auction in 1970 for $7,199 at Sotheby's.

Oil on canvas, 54.5 x 33.0cm. The work has not been traded before.