Rene Magritte Work Sells for $2.38m to Deliver a 9% Annualized Return

Rene Magritte, Le faux miroir (1952) sold for $2.38m (GBP1.85m), more than the low estimate at Christie's in London on March 5.

The sale beat the previous auction result for this work by $1.78m, equivalent to an annualized return of 9%. It last sold at auction in 2010 for $596,800 at Christie's.

Gouache On Paper, 14.5 x 19.4cm. The work has been traded 3 times in the past.