Marlene Dumas Work Sells for $120,700 to Deliver a 7% Annualized Return

Marlene Dumas, The Old Model Meets the New Model (1995), sold for $120,700 (GBP90,300), more than the low estimate at Phillips in London on March 7.

The sale beat the previous auction result for this work by $65,600, equivalent to an annualized return of 7%. It last sold at auction in 2014 for $55,100 at Christie's.

Wax, crayon, acrylic and glitter on paper, 65.0 x 50.0cm. The work has been traded 3 times in the past.