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this post was submitted on 21 Nov 2024
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Money laundering
The fact that it was bought by a crypto "entrepreneur" pretty much confirms it.
For real. If I really wanted the "art" I wouldn't have to spend more than $15. $5 for a roll of duct tape, $10 for a banana.
I see what you did there
Yo I was about to comment this.
Like literally.
How do you transfer a huge amount of money.
Just get the receipient to create "art"
Instruct receipient to sell "art" for the amount of money
Voila, legal money laundering!
Was commonplace in vanilla wow, you would see common items in the Auction House selling for silly prices - those were the players buying gold. Washing it via the auction house making it seem more legitimate.
Yeah, it's the first thing I thought. Everybody else sees it too, right? This is well past dadaism.
...but wasn't this the case all along in the art market, except for institutional buyers?
I don't understand how buying art with 6.2 m in cash is not going to be suspicious though?
Because you “can’t put a price on art”. Assuming there’s a sales tax or something for the sale, it’s pretty much a legit sale.