Marlene Dumas Work Sells for $1.95m to Deliver a 10% Annualized Return

Marlene Dumas, The Annunciation (1988), sold for $1.95m, more than the low estimate at Sotheby's in New York on May 14.

The sale beat the previous auction result for this work by $1.75m, equivalent to an annualized return of 10%. It last sold at auction in 2004 for $200,000 at Christie's.

Oil on canvas, 180.3 x 89.9cm. The work has been traded 5 times in the past.