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You could, and it likely happens in some cases. However, an auction house is going to take significant fees as a percentage of the sale price and your shill bi
by PragmaticPulp 5y ago
You could, and it likely happens in some cases.
However, an auction house is going to take significant fees as a percentage of the sale price and your shill bidder will want a cut as well. You’re also going to get a large tax bill because you technically had a realized capital gain and the auction house will report it.
With NFTs you can do a blockchain transaction for a relatively small fee by yourself from your computer. No taxes owed because you didn’t actually sell anything.
- vokep 5y agoThere are taxes as mining fees
- int_19h 5y agoIsn't it basically a flat tax, not dependent on the value "claimed" by the transaction, that is easily drowned for any transaction that would make such a scam worthwhile anyway?
- TedDoesntTalk 5y agoWhat about gas? ( honest question)