Pablo Picasso Work Sells for $15.1m to Deliver a 2% Annualized Return

Pablo Picasso, Homme assis (1969) sold for $15.1m, more than the low estimate at Sotheby's in New York on May 13.

The sale beat the previous auction result for this work by $3.73m, equivalent to an annualized return of 2%. It last sold at auction in 2014 for $11.37m at Sotheby's.

Oil and ripolin on canvas, 129.9 x 97.2cm. The work has been traded 7 times in the past.