Ever see a "painting" that looks like a septic explosion? And then it brings 100,000.00 (and lots more) at auction? BINGO!
That's not how money laundering works.
What you are describing is not money laundering. That's you not agreeing with prices in the art market. I would never pay over a million dollars for a car, but that doesn't mean there are no cars out there costing a million dollars or more. You can spend $2.5 million on a car and still not have the most expensive car they make. An Aston-Martin Valkyrie will set you back $3.2,
When you launder your money, you want to have clean usable money. If you need to store it long term, you can buy things like art or real estate, but you want to be able to get your money back if you need to. If you pay $100K for a worthless painting, you won't get that $100K back. If you just want to pay someone, you can just give them a briefcase full of cash. It's a much easier transaction.
There is an art market, whether you agree with the prices in that market or not. If you using art to launder money, you want VALUABLE paintings. And paintings sold at auction are probably the least problematic in terms of pricing. Multiple buyers show is there a demand for that work at that price.
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21749676? ago
Ever see a "painting" that looks like a septic explosion? And then it brings 100,000.00 (and lots more) at auction? BINGO!
21754179? ago
@3565299?
There's nothing in the article you posted that deals with money laundering. Are you even aware of that?
@21749676?
That's not how money laundering works.
What you are describing is not money laundering. That's you not agreeing with prices in the art market. I would never pay over a million dollars for a car, but that doesn't mean there are no cars out there costing a million dollars or more. You can spend $2.5 million on a car and still not have the most expensive car they make. An Aston-Martin Valkyrie will set you back $3.2,
When you launder your money, you want to have clean usable money. If you need to store it long term, you can buy things like art or real estate, but you want to be able to get your money back if you need to. If you pay $100K for a worthless painting, you won't get that $100K back. If you just want to pay someone, you can just give them a briefcase full of cash. It's a much easier transaction.
There is an art market, whether you agree with the prices in that market or not. If you using art to launder money, you want VALUABLE paintings. And paintings sold at auction are probably the least problematic in terms of pricing. Multiple buyers show is there a demand for that work at that price.
21757135? ago
I thought it was more about tax evasion then money laundering.