Ram Kumar Work Sells for $1.14m to Deliver a 19% Annualized Return

Ram Kumar, Untitled (Benares) (1994), sold for $1.14m, more than five and a half times the low estimate at Christie's in New York on March 25.

The sale beat the previous auction result for this work by $1.14m, equivalent to an annualized return of 19%. It last sold at auction in 1997 for $6,511 at Christie's.

Oil on canvas, 101.6 x 178.1cm. The work has been traded twice in the past.