Why Billionaires Actually Buy Art

The fine art market is one of the most fascinating ways the ultra-rich game the system to save millions of dollars in taxes each year.

[reedmedia_]

Please take a second to subscribe to this channel. Thanks!

[highontaiwan]

If anyone needs to try this because of a big tax bill coming up, you could by my art. It's a win-win for everyone involved.

[countcrackular]

This is really naughty information. But legal. Very clever.

[Niloptimalcode]

If anyone is interested, please consider contacting me, I do art for 17 years and love abstract painting.

[adarshks]

I thought u said " you're now watching read me dear"

[keekeecha-cha]

"You can get a private jet, a yatch, or some pricy real estate" *Shows a haunted mansion*

[joyk]

Your videos are priceless - please keep making them - this should have a *lot* more views. Thanks!

[AIxiVo]

Cant believe this does not have million views

[albertpopescu]

Awesome video. I was wondering from where did you take the informations, because i would like to learn more. Thanks.

[patrickmurphy]

Also u can say it’s a win win but billionaires not paying taxes is not a win for the public

[KampGallery]

Bidding on your own consignment is illegal almost everywhere. Not that it can't be done but it would have to involve others, creating an additional crime, conspiracy. Creating wealth out of art is very difficult, expensive, and time consuming. It's not a slam dunk. And most art does not increase in value. Ever. Most art ends in a landfill.

[thetinderswindlers]

they are also a good way to store untaxable wealth for your kids

[jieckjames]

The conclusion that this is all around beneficial is neglecting the fact the art owner has just dodged possibly millions of dollars in tax. Just a weird conclusion to come to. You can respect that it does benefit some people and that’s why there willing to play along. Though to say it’s good for everyone is being ignorant of people that could have been benefited by the tax collection.

[uchibenkei]

Time to plan some free port robberies.

[Sharperthanu]

P.S. Only FAMOUS art has financial investment value.

[heyitsritu]

Wow good explanation I understand it now thank you

[tyronebost]

Why do you think Harlan Crow is turning Clarence Thomas‘s mothers house into a museum? So that you can pay for it not him.

[Sharperthanu]

Answer: To invest their money and then sell the art later when the price of it goes up to make money on their investment(s).

[VanNguyen-jmlh]

Art is like 100m and I can hide it under the bed and 100m u can’t hide it under your bed. Smart

[alainportant]

4:49 A 2% commission to an auction house 😂😂 ? Let's multiply that number by 20 !