Riggio Made 53% on His Twombly Work But Yours Might Flop

Not every painting by Cy Twombly is created equal.

That was clear at the annual London auctions earlier this month. Barnes & Noble Inc. Chairman Leonard Riggio made about 53 percent in less than three years when his Twombly painting sold for 17.5 million pounds ($26.7 million), before fees, at Christie’s on Feb. 11. Another work by the late artist at the same sale failed to find a buyer.