Stanley Spencer Work Sells for $239,900 to Deliver a 8% Annualized Return

Stanley Spencer, Portrait of Lady Slesser (1921) sold for $239,900 (GBP178,200), more than one and a half times the low estimate at Bonhams in London on June 18.

The sale beat the previous auction result for this work by $236,800, equivalent to an annualized return of 8%. It last sold at auction in 1972 for $3,056 at Sotheby's.

Oil on canvas, 71.5 x 61.0cm. The work has been traded 8 times in the past.