Salvatore Scarpitta Work Sells for $1.08m to Deliver a 9% Annualized Return

Salvatore Scarpitta, Helikon (1959) sold for $1.08m, more than the low estimate at Sotheby's in New York on May 15.

The sale beat the previous auction result for this work by $891,400, equivalent to an annualized return of 9%. It last sold at auction in 2005 for $188,100 at Sotheby's.

Bandages and mixed media, 114.3 x 162.6 x 15.2cm. The work has been traded 5 times in the past.