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December 11, 2017

$450M da Vinci

An article on Bloomberg quotes Mohamed Khalifa Al Mubarak, chairman of the Abu Dhabi Department of Culture & Tourism: “We worked very closely with the broker on this piece and we bid on it and it was acquired, thank God, with the price we felt it was right for,”.  Let’s be real, two buyers got into a bidding war and the one with the deepest pocket won.  We will never know if it was the ‘right’ price, but what we do know is that it was THE price.

Source: Abu Dhabi Says It Paid ‘Right’ Price for $450 Million Da Vinci – Bloomberg