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There's a big difference between an illiquid market where wealthy collectors are so keen to hang onto things they only change hands at crazy possibly-not-to-be-
by notahacker 4y ago
There's a big difference between an illiquid market where wealthy collectors are so keen to hang onto things they only change hands at crazy possibly-not-to-be-repeated prices and a fake market where the illusion of deep-pocketed collectors is created by the auctioneer and owner colluding to pretend an item changed hands at a massive amount of money.
- samatman 4y agoThe amount of wash trading in the fine art world is certainly not zero.
- notahacker 4y agoTrue, but I don't thing wash trading is integral to convincing people that fine art is something people want...
- DuskStar 4y agoThere's perhaps a difference between an original DaVinci and whatever the latest paint splatter on canvas modern art is, though.
- vkou 4y agoI'm pretty sure it's integral to convincing people that ~99% of the >$1,000,000 fine art is something people want enough to pay the 'going' price for.
- ClumsyPilot 4y agoThere is also a big difference between Russia having to shut down a gas pipe for maintenance and politically motivated energy blackmail. ...Or is there?