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horsena [70]
3 years ago
9

Although appealing to more refined tastes, art as a collectible has not always performed so profitably. During 2003, Sotheby’s s

old the Edgar Degas bronze sculpture Petite Danseuse de Quartorze Ans at auction for a price of $10,311,500. Unfortunately for the previous owner, he had purchased it in 1999 at a price of $12,377,500. What was his annual rate of return on this sculpture?
Business
1 answer:
Lyrx [107]3 years ago
4 0

Answer:

Although appealing to more refined tastes, art as a collectible has not always performed so profitably. During 2003, Sotheby’s sold the Edgar Degas bronze sculpture Petite Danseuse de Quatorze Ans at auction for a price of $10,311,500. Unfortunately for the previous owner, he had purchased it in 1999 at a price of $12,377,500.

Explanation:

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