Walter Spies Work Sells for $838,100 to Deliver a 2% Annualized Return

Walter Spies, Die schlittschuhläufer (the ice skaters) (1922), sold for $838,100 (SGD1.07m), more than the low estimate at Sotheby's in Singapore on January 25.

The sale beat the previous auction result for this work by $295,400, equivalent to an annualized return of 2%. It last sold at auction in 2011 for $542,700 at Sotheby's.

Oil on canvas, 82.5 x 70.5cm. The work has been traded 5 times in the past.