Wayne Thiebaud Work Sells for $2m But Delivers a 20% Negative Return

Wayne Thiebaud, Self-Portrait (1973), sold for $2m, more than the low estimate at Phillips in New York on May 19.

The sale was below the previous auction result by $517,500, realizing a 20% negative return. It last sold at auction in 2014 for $2.52m at Christie's.

Oil on canvas, 40.6 x 40.6cm. The work has been traded 3 times in the past.