Pierre Soulages Work Sells for $2.08m to Deliver a 12% Annualized Return

Pierre Soulages, Painting 130 x 89 cm, June 25, 1954 (1954), sold for $2.08m (EUR1.77m), more than one and a half times the low estimate at Christie's in Paris on April 15.

The sale beat the previous auction result for this work by $2.07m, equivalent to an annualized return of 12%. It last sold at auction in 1982 for $13,900 at Christie's.

Oil on canvas, 130.0 x 89.0cm. The work has been traded 5 times in the past.