Rene Magritte Work Sells for $2.15m to Deliver a 11% Annualized Return

Rene Magritte, Le mois des vendanges (1959), sold for $2.15m, more than seven times the low estimate at Christie's in New York on May 19.

The sale beat the previous auction result for this work by $2.03m, equivalent to an annualized return of 11%. It last sold at auction in 1998 for $120,000 at Christie's.

Pen and india ink and brush and grey wash on paper, 17.8 x 26.6cm. The work has been traded twice in the past.