3-27 In 1995 an anonymous private collector purchased a painting by Picasso entitled Angel Fernandez de Soto
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3-27 In 1995 an anonymous private collector purchased a painting by Picasso entitled Angel Fernandez de Soto for $29,152,000. The picture depicts Picasso's friend de Soto seated in a Barcelona cafe drinking absinthe. The painting was done in 1903 and was valued then at $600. If the painting was owned by the same fam- ily until its sale in 1995, what rate of return did they receive on the $600 investment?
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Engineering Economic Analysis
ISBN: 9780357419687
11th Edition
Authors: Donald Newnan, Ted Eschenbach, Jerome Lavelle
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