There's a tax shell-game aspect to modern art, as well. If you sell a piece of art and re-invest the proceeds into a substantially similar work of art (painting

There's a tax shell-game aspect to modern art, as well. If you sell a piece of art and re-invest the proceeds into a substantially similar work of art (painting for a painting, sculpture for a sculpture, etc) you can avoid paying capital gains taxes. Source: http://www.nytimes.com/2015/04/27/arts/design/tax-break-used-by-investors-in-flipping-art-faces-scrutiny.html http://www.nytimes.com/2015/04/27/arts/design/tax-break-used...