Pablo Picasso Work Sells for $1.52m to Deliver a 6% Annualized Return

Pablo Picasso, Nu assis (1972), sold for $1.52m (GBP1.15m), more than one and a half times the low estimate at Christie's in London on October 14.

The sale beat the previous auction result for this work by $1.29m, equivalent to an annualized return of 6%. It last sold at auction in 1995 for $237,800 at Christie's.

Gouache and brush and india ink and wash on paper, 77.0 x 59.7cm. The work has been traded twice in the past.