Max Beckmann Work Sells for $42,700 But Delivers a 15% Negative Return

Max Beckmann, Kaninchendiebe im Hermsdorfer Wald (Rabbit Thieves in the Hermsdorf Forest) (1912), sold for $42,700 (GBP32,000), more than the low estimate at Sotheby's in London on March 5.

The sale was below the previous auction result by $7,686, realizing a 15% negative return. It last sold at auction in 2008 for $50,400 at Ketterer Kunst.

Oil on canvas, 32.2 x 48.0cm. The work has been traded 4 times in the past.