Zhang Xiaogang Work Sells for $69,800 But Delivers a 62% Negative Return

Zhang Xiaogang, Untitled No. 1 (2003) sold for $69,800, less than the low estimate at Sotheby's, Online on July 15.

The sale was below the previous auction result by $116,200, realizing a 62% negative return. It last sold at auction in 2006 for $186,100 at Sotheby's.

Oil on canvas, 40.0 x 50.0cm. The work has been traded 3 times in the past.