Tom Wesselmann Work Sells for $516,000 to Deliver a 1% Annualized Return

Tom Wesselmann, Great American Nude #18 (1961) sold for $516,000, less than the low estimate at Phillips in New York on November 21.

The sale beat the previous auction result for this work by $116,000, equivalent to an annualized return of 1%. It last sold at auction in 2006 for $400,000 at Christie's.

Oil, wax crayons and printed paper collage on two joined panels, 121.9 x 121.3cm. The work has been traded 4 times in the past.