Picasso Work Sells for $1.92m to Deliver a 7% Annualized Return

Pablo Picasso, Buste d'homme (1969) sold for $1.92m, more than the low estimate at Sotheby's in New York on November 18.

The sale beat the previous auction result for this work by $1.84m, equivalent to an annualized return of 7%. It last sold at auction in 1982 for $80,000 at Sotheby's.

Oil On Cardboard, 114.3 x 65.1cm. The work has been traded twice in the past.