Yoshitomo Nara Work Sells for $5.81m to Deliver a 10% Annualized Return

Yoshitomo Nara, Baby Blue (1999) sold for $5.81m (HKD45.22m), more than the low estimate at Phillips in Hong Kong on November 25.

The sale beat the previous auction result for this work by $3.64m, equivalent to an annualized return of 10%. It last sold at auction in 2015 for $2.17m at Sotheby's.

Acrylic On Canvas, 120.0 x 110.0cm. The artwork debuted at auction at Christie's in New York on November 9, 2005, and was sold for $307,200.