Max Beckmann Work Sells for $8.2m to Deliver a 7% Annualized Return

Max Beckmann, Artisten (1948), sold for $8.2m (GBP6.19m), more than three times the low estimate at Sotheby's in London on June 24.

The sale beat the previous auction result for this work by $7.9m, equivalent to an annualized return of 7%. It last sold at auction in 1981 for $300,000 at Christie's.

Oil on canvas, 165.5 x 88.6cm. The work has been traded 10 times in the past.