Max Ernst Work Sells for $147,300 to Deliver a 5% Annualized Return

Max Ernst, Le blanc du ciel (1950) sold for $147,300 (EUR127,000), more than the low estimate at Sotheby's in Paris on October 24.

The sale beat the previous auction result for this work by $137,300, equivalent to an annualized return of 5%. It last sold at auction in 1970 for $10,100 at Sotheby's.

Oil on panel, 27.0 x 35.0cm. The work has been traded 6 times in the past.