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Except the GP quote actually happens. For example, if you've ever wondered why useless art trades at such eye-watering valuations, the answer is that the high
by jerf 5mo ago
Except the GP quote actually happens.
For example, if you've ever wondered why useless art trades at such eye-watering valuations, the answer is that the high valuations are fictions that governments will accept for tax purposes, from which you can derive a variety of exciting tax consequences: https://naturalist.gallery/blogs/journal/understanding-the-fine-art-market-how-the-wealthy-use-art-for-tax-evasion https://naturalist.gallery/blogs/journal/understanding-the-f... more-or-less because they agree among themselves what the art is valuated at for their own benefit.