Rene Magritte Work Sells for $13.22m to Deliver a 12% Annualized Return

Rene Magritte, La reconnaissance infinie (1933) sold for $13.22m (GBP10.31m), more than one and a half times the low estimate at Christie's in London on March 5.

The sale beat the previous auction result for this work by $12.13m, equivalent to an annualized return of 12%. It last sold at auction in 2004 for $1.09m at Christie's.

Oil On Canvas, 100.0 x 70.2cm. The work has been traded 4 times in the past.