Piero Manzoni Work Sells for $686,500 But Delivers a 40% Negative Return

Piero Manzoni, Achrome (1958), sold for $686,500 (GBP512,000), more than the low estimate at Sotheby's in London on March 4.

The sale was below the previous auction result by $462,900, realizing a 40% negative return. It last sold at auction in 2007 for $1.15m at Sotheby's.

Kaolin on canvas, 30.0 x 40.0cm. The work has been traded 3 times in the past.