Paul Klee Work Sells for $710,800 to Deliver a 4% Annualized Return

Paul Klee, Kleine Erinnerung an Nymphenburg (1921), sold for $710,800 (GBP537,600), more than two 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 $530,800, equivalent to an annualized return of 4%. It last sold at auction in 1996 for $180,000 at Sotheby's.

Gouache and watercolour on paper laid down on the artist's mount, 15.4 x 12.4cm. The work has been traded 5 times in the past.