One angle on the modern art world I heard is that it is used as a bribe that is tax deductible. They briber buys the art from the person they are bribing and t

One angle on the modern art world I heard is that it is used as a bribe that is tax deductible. They briber buys the art from the person they are bribing and then they donate it to a museum at the paid value and deduct it on their taxes. The IRS can't set a fair price for a painting after all.