Quote:
Originally Posted by Bladewire
Art is used by the rich to avoid taxes and launder money, in case you didn't know. Often the high selling price of a piece of crappy art isn't about the art, it's about who the seller & buyer are. We want to do a non traceable deal so my shell company sells your shell company my art anonymously or via fixed auction.
All sorts of tax benefits / loopholes if you're doing an above board transaction, like funding a charitable remainder trust with the art, for starters. Crazy world the rich live in.
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It's always been like this, although this type money laundering does make me wonder about the actual value of past masterpieces ie Van Gogh and such