Mario Schifano Work Sells for $61,900 to Deliver a 7% Annualized Return

Mario Schifano, Untitled sold for $61,900 (EUR53,300), more than one and a half times the low estimate at Christie's in Paris on October 24.

The sale beat the previous auction result for this work by $49,900, equivalent to an annualized return of 7%. It last sold at auction in 2001 for $12,000 at Christie's.

Enamel and graphite on paper laid on canvas, 106.0 x 75.0cm. The work has been traded twice in the past.