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Here's a great podcast on it: https://www.npr.org/sections/money/2018/02/09/584555705/episode-823-planet-monet https://www.npr.org/sections/money/2018/02/09/584

• drcode 8y ago
  Sorta, though arguably that podcast says the exact opposite: That taxes are high for art transactions and that people have to develop additional schemes to avoid them: I can buy GOOG stock without sales tax, but apparently you DO have to pay sales tax in a Southeby's auction. I'm guessing that asabjorn's comment is more accurate: People donate art at a fraudulently-inflated price to lower their tax liability.
  • auiya 8y ago
    > I can buy GOOG stock without sales tax Right you pay brokerage fee at time of purchase and capital gains tax at time of sale though, which is often larger than sales tax.
• benmmurphy 8y ago
  Apparently that is avoiding sales taxes and in a way that seems completely legitimate. One of the examples was New York. New York has a destination based sales tax. So if you are not using the item in New York you don't pay sales tax on it.