Libertarian literary translation question

A reader writes:

I have found an excellent novel in Spanish by a long-dead author who is still just in copyright. He was already forgotten when he died, and has remained so. I’d like to translate and self-publish it. How much should I offer the rights-holders?

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Barcelona (483):

English language (424):

Föcked Translation (413): I posted to a light-hearted blog called Fucked Translation over on Blogger from 2007 to 2016, when I was often in Barcelona. Its original subtitle was "What happens when Spanish institutions and businesses give translation contracts to relatives or to some guy in a bar who once went to London and only charges 0.05€/word." I never actually did much Spanish-English translation (most of my work is from Dutch, French and German) but I was intrigued and amused by the hubristic Spanish belief, then common, that nepotism and quality went hand in hand, and by the nemeses that inevitably followed.

Spain (464):

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