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Started By
Message
1
Posted on 10/25/23 at 10:26 am to CatfishJohn
quote:Just like Bitcoin.
It's more about buying it and then selling it, removing dirty money from the stream, than it is about buying/selling at inflated prices.
Posted on 10/25/23 at 10:26 am to SantaFe
quote:
I’d rather have a Monet .
Me too.
Posted on 10/25/23 at 10:32 am to 777Tiger
quote:
hard to believe more than one sap would pay that price for that scribbling, but I don't know much about "art"
I don't know much about "art" either, but I do know a few things about three-year-olds and crayons and Twombly is completely unremarkable in that arena.
Posted on 10/25/23 at 10:34 am to Fun Bunch
I read online the following quote:
“Modern art is ‘I could have done that’ but you didn’t”
It’s stupid but true. Also, I hate modern art.
“Modern art is ‘I could have done that’ but you didn’t”
It’s stupid but true. Also, I hate modern art.
Posted on 10/25/23 at 10:36 am to Oilfieldbiology
quote:
“Modern art is ‘I could have done that’ but you didn’t”
Yup.
Everyone says they could, but they didn't, and now its too late for them to do it
Posted on 10/25/23 at 10:38 am to Fun Bunch
quote:
He's dead, so he's not making any more to dilute the market. The value will almost always go up...way up, eventually.
bullshite. I just found 37 of them stashed away in my attic, perfect signature and all.
Posted on 10/25/23 at 10:38 am to OysterPoBoy
quote:
They put the money in the frame.
The money is in the banana stand
Posted on 10/25/23 at 10:39 am to Fun Bunch
quote:
Here's another piece from him:
So, he's got a "style". Simply scribble colored lines, swirls and loops on a piece of canvas, give it a very pretentious name and wait for idiots with more money than sense to want to buy it.
Guess I'll never understand "art".
True story. One year, about 10 years ago the wife convinced me to go with her to the annual "White Linen Night" held in the "art district" of downtown N.O.
We walked into a few galleries that had some nice paintings, but the one that stuck in my mind was the one that was filled with small painting much like the crap the OP posted.
White canvas with different colored lines splashed across them-----each with an asking price in the thousands. I just had to laugh and walked out wondering what fool would pay that for something a 3 yr. old could do if left alone with canvas and painting equipment.
Posted on 10/25/23 at 10:40 am to liquid rabbit
The one on the right is by your grand daughter isn’t it?
Posted on 10/25/23 at 10:40 am to AUin02
quote:With art, therein lies the problem
Sell that asset for the same or more amount of money,
Posted on 10/25/23 at 10:43 am to Fun Bunch
quote:
What if you don't have the slightest clue who bought it.
IRS:
Completely anonymous transaction over $40MM dollars for “art”? Nothing to see here
Venmo transaction for $200 between two friends? Well, well, well, what do we have here?
Posted on 10/25/23 at 10:47 am to AUin02
quote:
You took money earned through illicit means, then purchased a "clean" asset worth the same $ amount
So nobody bats an eye at a cash sale of 42 mil?
I understand how laundering works through car washes, mattresses, and other relatively small purchases. But ones this big information sure do not get.
Posted on 10/25/23 at 10:52 am to Fun Bunch
It’s upside down…
This post was edited on 10/25/23 at 11:01 am
Posted on 10/25/23 at 10:52 am to Fun Bunch
I saw one just like it on Wayfair for $100
Posted on 10/25/23 at 10:56 am to CatfishJohn
A lot ultra wealth use expensive artwork for tax savings not necessarily money laundering.
I read a long article about the practice years ago. I don't remember the specifics but the concepts is to find a piece you wish to buy. Get it all hyped up to some ridiculous price so it can actually sell and get appraised on this stupid number.
You buy the art. Then donate to a museum or charity of somesort (even if it's one you are in cahoots with) and you get massive writes off on the artwork for years and years worth way more than the ~40 million you bought it for.
I'm sure someone more educated on the matter could comment more.
I read a long article about the practice years ago. I don't remember the specifics but the concepts is to find a piece you wish to buy. Get it all hyped up to some ridiculous price so it can actually sell and get appraised on this stupid number.
You buy the art. Then donate to a museum or charity of somesort (even if it's one you are in cahoots with) and you get massive writes off on the artwork for years and years worth way more than the ~40 million you bought it for.
I'm sure someone more educated on the matter could comment more.
This post was edited on 10/25/23 at 11:01 am
Posted on 10/25/23 at 11:02 am to Fun Bunch
Not Art. At least not good or even passable art. More along the line of a Pre-K finger painting session. Ridiculous..
Posted on 10/25/23 at 11:06 am to LSURussian
quote:
It’s upside down…
oh shite.
It makes sense now
Posted on 10/25/23 at 11:08 am to Oilfieldbiology
quote:
The one on the right is by your grand daughter isn’t it?
I'll let you decide. One is available for $6,500.
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