Alexander Calder Work Sells for $1.88m to Deliver a 1% Annualized Return

Alexander Calder, Yellows in the Air (1961) sold for $1.88m, more than the low estimate at Phillips in New York on May 13.

The sale beat the previous auction result for this work by $448,500, equivalent to an annualized return of 1%. It last sold at auction in 2010 for $1.43m at Sotheby's.

Sheet metal, wire and paint, 113.0 x 96.5 x 71.1cm. The work has been traded 6 times in the past.