[TonyinLA]

Fine art is largely a money laundering / tax evasion scheme for the wealthy.

Buy a painting - comprised of doodles and splashed paint - for 10k from an “up and coming” artist. Spend 150k promoting the artist, holding showings, and upping sales over the next year. This week an Al Saud buys another one of the ‘artist’s the painting, next week its the Rothschilds, then a Ma. Watch as the “artistic value” of your 10k painting skyrockets.

Then donate your painting to some museum at an appraised value of $10mil., take the tax deduction and viola! You just evaded taxes on $10mil income for a measly 160k. The wealthy’s accountants and art managers all know each other, and take turns.

Stories like this paint the scam with legitimacy.

[nickcarraway]

Fine art is largely a money laundering / tax evasion scheme for the wealthy.

Maybe they don't want their money to be spend on bombs and weapons to kill some poor kid.

Do you have a citation that there are a significant number of artworks that sell for $160k, and end up appraised at $10 million?

[Qui is]

“Fine art is largely a money laundering / tax evasion scheme for the wealthy.”

Indeed it is.

[Leaning Right]

> Fine art is largely a money laundering / tax evasion scheme for the wealthy. <

You are too suspicious. Next thing you’ll be telling us that people aren’t buying Hunter’s paintings for their artistic value.