Lund Painting Sold for 1,500% Gain Shows Return of Art Flippers

Israel Lund’s grainy, washed out yellow and gray painting was sold four times over 11 months, jumping more than 1,500 percent in price along the way.

It was among 124 artworks produced in the past three years that came on the block at this month’s New York auctions -- a 114 percent increase over May 2013, when 58 pieces in the same age range were traded, according to Artnet Worldwide Corp.