Michelangelo Pistoletto Work Sells for $3.4m to Deliver a 9% Annualized Return

Michelangelo Pistoletto, Maria nuda (1969) sold for $3.4m, more than three times the low estimate at Sotheby's in New York on May 15.

The sale beat the previous auction result for this work by $2.82m, equivalent to an annualized return of 9%. It last sold at auction in 2005 for $582,000 at Christie's.

Painted tissue paper on polished stainless steel, 120.7 x 150.2cm. The work has been traded 3 times in the past.