08-17-2016, 07:07 AM
|
|
Promoting Debate on GFY
Industry Role:
Join Date: Apr 2007
Posts: 27,173
|
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.
|
Very nicely summed up  /thread
|
|
|