Monday, October 15, 2012
Abstract Painting (809-4) Gives Clapton 21% Annualized Return
There was an article in the Journal today about a painting by Gerhard Richter entitled Abstract Painting (809-4) which sold for $34m, the highest price ever for a living artist's work. The article mentions that the painting was purchased by Eric Clapton for $3.1m in 2001, which is a 21.2% annualized return. For comparison, AAPL has given a ~41% annualized return and Gold has returned ~16% per year since then. The S&P has returned about 1.5% before dividends in the same time.
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