Why someone will pay millions of dollars for a painting, is there something behind that normal people doesn’t know?

Question

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?

In: Other

Answer 1

there may be tax write offs and loopholes but there may be other sinister elements as part of the transaction

https://ellacruz.org/2018/04/24/1603/

underground trade not limited to drugs, nukes and stolen goods but black market turnover be an integral part of the economy..