4 ms·
That only works if the IRS considers the price of the art to be $20m. If it were that easy then you could just donate anything at whatever price you want. High
by mFixman 5y ago
That only works if the IRS considers the price of the art to be $20m. If it were that easy then you could just donate anything at whatever price you want.
High art is valuable because high art is expensive. I'm not losing $450 million when I buy a $450 million painting any more than I lose money when I buy a house.
This whole thing is a conspiracy theory created by judgemental people with null knowledge of art to complain about the latest modern art pieces and it spiraled out of control to an urban myth in the level of "the Facebook app is secretly using your microphone" or "vaccines give you tracking microchips".
- sabellito 5y agoDo you have any links explaining how art valuation works?
- cameron_b 5y agoBachelors of Fine Art degree holder here, Everything is made up and the example cited above is very close to the story of “For The Love of God” by Damien Hirst [0] The sculpture is more of a pointer, or some direct object upon which could be acted the work of art which was the financing valuation and theoretical sale of the work In most experiences, it starts with how anything is priced. How long did it take to make it and how much money did it take to do so. Plus some. And then what will someone pay for it. But that’s just “most” and that never makes headlines or anecdotes [0] https://en.m.wikipedia.org/wiki/For_the_Love_of_God https://en.m.wikipedia.org/wiki/For_the_Love_of_God
- coliveira 5y agoYou cannot "donate anything" and get away with this. You need to go through a proper art collection selling process, that's the whole point.