Why do people buy huge canvases with a few dots on from an arts unheard of for millions? I know it’s commonly used to launder money. Can someone explain how the process works?
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A bad guy (let’s call him Mr. Burns) wants to pay you $10 million to do something illegal.
If Mr. Burns writes you a check for $10 million, the banking and tax people might say, “Why’s Mr. Burns paying this random dude $10 million? We should investigate both of you.”
On the other hand, if you buy a painting somewhere for $1 million, then sell it to Mr. Burns for $11 million, on paper it’s simply a profitable investment. There’s no accounting formula that will tell you what the painting’s truly worth, that Mr. Burns vastly overpaid you. Beauty is in the eye of the beholder.
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