Pablo Picasso Work Sells for $537,300 to Deliver a 5% Annualized Return

Pablo Picasso, Homme et nu allongé (1970) sold for $537,300 (GBP419,100), more than one and a half times the low estimate at Sotheby's in London on March 5.

The sale beat the previous auction result for this work by $355,500, equivalent to an annualized return of 5%. It last sold at auction in 2005 for $181,900 at Christie's.

Wax Crayon On Paper, 26.8 x 37.0cm. The work has been traded 4 times in the past.