3 ms·
Any art sale is a good opportunity for money laundering since art doesn't have an objective value
by invalidusernam3 5y ago
Any art sale is a good opportunity for money laundering since art doesn't have an objective value
- beardyw 5y agoHigh end art by dead artists mainly. Newly created art benefits the gallery and artist (in that order)
- invalidusernam3 5y agoI suppose it depends how much money you want to launder.
- fsloth 5y agoArt is used extensively as a money laundering platform https://edition.cnn.com/2020/07/29/business/art-money-laundering-sanctions-senate/index.html https://edition.cnn.com/2020/07/29/business/art-money-launde... Which explains part the ludicrous prices I suppose - it's not about intrinsic value, it's just about finding a suitable denomination.