Peter Doig Work Sells for $2.98m to Deliver a 8% Annualized Return

Peter Doig, Ski Jacket (1993) sold for $2.98m, more than two and a half times the low estimate at Sotheby's in New York on November 18.

The sale beat the previous auction result for this work by $1.78m, equivalent to an annualized return of 8%. It last sold at auction in 2014 for $1.2m at Sotheby's.

Oil on canvas, 46.7 x 50.5cm. The work has been traded twice in the past.