People don’t buy the art for millions. There are a few different things people do. To launder money they sell the art for a few thousand, but tell them IRS they sold if for millions, and use illegal money to make up the difference. Another thing they can do is tax evasion. If they buy art for a few thousand, then an art appraiser says it’s worth millions, they can donate the art to some charity and get that fake value in tax deductions.
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