On Kawara Work Sells for $533,400 to Deliver a 5% Annualized Return

On Kawara, 8 JAN. 1973 (1973) sold for $533,400, more than one and a half times the low estimate at Sotheby's in New York on May 16.

The sale beat the previous auction result for this work by $303,400, equivalent to an annualized return of 5%. It last sold at auction in 2009 for $230,000 at Sotheby's.

Liquitex on canvas with newspaper clippings in artist's cardboard box, 25.3 x 33.0cm. The work has been traded 4 times in the past.