Rene Magritte Work Sells for $1.22m to Deliver a 12% Annualized Return

Rene Magritte, Une Partie de plaisir (1956), sold for $1.22m (EUR1.09m), more than the low estimate at Sotheby's in Paris on October 23.

The sale beat the previous auction result for this work by $1.2m, equivalent to an annualized return of 12%. It last sold at auction in 1993 for $26,700 at Sotheby's.

Gouache on paper, 15.7 x 20.2cm. The work has been traded 5 times in the past.