Pablo Picasso Work Sells for $426,500 to Deliver a 7% Annualized Return

Pablo Picasso, Nu et deux têtes (1970) sold for $426,500 (GBP313,500), less than the low estimate at Sotheby's in London on September 17.

The sale beat the previous auction result for this work by $402,500, equivalent to an annualized return of 7%. It last sold at auction in 1984 for $24,000 at Christie's.

Pastel and brush and pen and ink on paper, 50.0 x 65.2cm. The work has been traded 4 times in the past.