So I was listening the news about a new art exhibition and paintings reached 80 millions of dollars, I can understand that if you have a lot of money you can afford that but let’s be honest, millionaires are millionaires because at least some of them are smart, me as normal person don’t believe buying a paint for 50-80 million is a smart move, is there something that I’m missing? Something that is not widely shared about those art subast?
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Assuming there’s not anything shady like money laundering or tax evasion going on. Art, jewelry, luxury cars, etc. are often [Veblen goods](https://en.m.wikipedia.org/wiki/Veblen_good) that become more desirable as they get more expensive
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