Roberto Matta Work Sells for $54,200 to Deliver a 3% Annualized Return

Roberto Matta, Untitled (1963), sold for $54,200, more than the low estimate at Phillips in New York on May 21.

The sale beat the previous auction result for this work by $28,600, equivalent to an annualized return of 3%. It last sold at auction in 2001 for $25,600 at Sotheby's.

Oil on canvas, 80.3 x 99.7cm. The work has been traded twice in the past.