Why Rich People buy expensive Paintings at 5-10 crores ? #shorts

[adityabhavsar]

Samjha nhi, pr sun ke accha lga 😀
Jab itne paise aa jayenge tab wapis aaye dekhunga 😅

[HemanGohil]

Artists be like: "meri shaktiyon ka galat istemaal hua hai maa" 😅

[Creepystalker]

Sir ke kehne ka matlab h ki phle painting kharido fir apne hi kisi dost se jyada rate pr uski boli lgwao aur museum ko donate kr do

[abtking]

Why didn't he keep the 9 Crore profit and pay Rs. 2.7 Crores in taxes instead? It's a pure ₹6.3 Crore profit.

[shreyashasane]

Funfact: The most expensive painting to be sold in an auction is Salvator Mundi by Leonardo Da Vinci. It was sold for $450 million ( ₹ 3150 crores) to Prince of Abu Dhabi for their Tourism Department.

[piyushsinghbora]

It doesn’t make sense, anyone will prefer 7 crores than saving 3 crores for tax exemption!!😅😅

[manojpatil]

If someone is ready to buy it for 10 crores why not just sell it 😂😂

[AmanDeep-leoh]

Mujhe laga tha ki ameer log Sach me artists ki respect karte hai 🙄🙄😔

[AbbanAhmad]

Or he could have sold that in 10 crore. Earned 9 crore. Even after paying 30% on it he will still have 6.3 crore instead of the 3 crore tax credit that you are talking about 😂😂😂😂😂

[jaydeep]

Please Make Detailed Video on this topic
There is something wrong in your knowledge, I think 🤔

[raviagarwal]

Rich people often burn a significant amount of money on buying art because it can be a symbol of their wealth, status, and sophistication. Owning rare and valuable works of art can be a way to show off one's taste and refinement, and it can be seen as a way to distinguish oneself from others in their social circles.

Furthermore, art can be a good investment for the wealthy. The value of certain works of art can appreciate over time, and many rich people see buying art as a way to diversify their investment portfolios. They may also view art as a store of value that can protect their wealth from inflation.

For some rich people, buying art is also a way to support the arts and artists. They may feel a sense of satisfaction from knowing that they are contributing to the preservation and promotion of culture.

In addition, collecting art can be a hobby or a passion for some rich people. They may derive enjoyment and fulfillment from studying and appreciating works of art, and building a collection can be a way to pursue this interest.

Overall, rich people may burn a lot of money on buying art for a variety of reasons, including as a symbol of status, as an investment, as a way to support the arts, or as a personal passion or hobby.

[shrishti_agrawal]

Rich people's are very smart. They are the ones who pay minimum taxes even if they have lots of money.

[warriorx]

Middle class people like us who invest in FDs and LIC won't understand this 😂

[skymanaditya]

So for people saying that he could've sold the painting for 10 crores and still pocket 7 crores with a 30% tax slab, remember it's actually difficult to sell the painting that high, and 10 crore is the value of the painting (kind of like the interest someone has in that painting), so when he donates that painting, it's apparent value was 10 crore which gives him a tax credit of 3 crores. It's like saying that you purchase a house for 1 crore and someone values it at 10 crores and you donate the house to charity, you have a 3 crore tax credit. I however think there are ways to legalize this valuation, otherwise, I can start a fictitious company tomorrow and generate 10000 shares against the company, and sell 1 share to someone for 100 dollars, so essentially my net worth would be 1 million dollars. But there are regulations in place that prevent that.

[abhaygautam]

मतलब अपने दोस्त को बोलो कि भाई तू 10 करोड़ की बोली लगा
फिर मैं इसे म्यूजियम को दे दूंगा
और तुझे tofee खिला दूंगा 😂 😂

[mrinaldeka]

Not true always, sometimes painting could be an investment.

[christmg]

I've never thought about it or even had a small curiosity but it's definitely worth knowing.

[incivinci]

Just by someone expressing interest to buy it at 10 Crore doesn’t automatically increase its value.
If such were the case then people will start cutting deals to express interest without actually buying (having to spend any money) anything and make Crores overnight.

[saurabhpatel]

Samaj m kuch nii aaya
But, At last 'I like ur confidence' 😂😂

[amittechback]

What a concept.... thanks for
Rich people always think for future as well as for