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kleinbl00  ·  1604 days ago  ·  link  ·    ·  parent  ·  post: Why Billionaires Actually Buy Art

No. This video is dumb. And the narrator isn't even interested in it.

There is a fascinating book on this subject. Point by point:

    1-Buy collection at low price from artiste

Sure but unless you're Charles Saatchi nobody cares.

    2-increase interest in said artist:

The way you do this is you, rich person, tell another rich person to buy said artist. Articles? nobody gives a fuck. Gallery? Sure, but really it's about the fairs. Remember, if you're telling other rich people to buy the artist you get a finders' fee and the auction house gets twenty percent.

Tax havens aren't that big a deal - even if your government knows you bought it, they can't tax it until it lands in your home country so this whole sinister secrecy bullshit doesn't even matter. Fundamentally it's garden-variety speculation on a volatile asset and it's no more dirty and underhanded than fucking stocks.