What’s worse is that the laws allowing the international movement of works of art is protected in the same way the Diplomatic Luggage Status works.....
Basically, the law allows the sender and recipient to keep the exact details secret and customs etc are not allowed to be opened or inspected.....
Q gave us some good links to this early on .... about early 2018....
"...you've essentially saved yourself $9 million plus in tax every single year."
Nope, you've acquired a tax WRITE-OFF in the amount of $9 million. Not even close to being the same thing. Without knowing the tax burden of the individual in the hypothetical example, the $250,000 investment might not even pay off.
I'm not saying there isn't a scam in the art world, but this video doesn't understand enough about income taxes, etc., to explain it properly.
This is so false. You can't just "make $10 million dollar art" as she states at about the 2 minute mark. After that she goes on to say that appraisers are in on it, which would absolutely hurt their value (livelihood) if they did this more than once. She also says that you need to market this person. None of this is guaranteed to produce any sort of value. There is no reason an artist, or their group of friends couldn't try this same on their own. She goes on to say that this scam would cost ~$250k, what if it doesn't work? Do you talk about how much they lost on previous endeavors, trying to hype up artists that never stuck? That no one ever talked about again after spending that money? No, of course not. This is an advertising and marketing exercise. It contains as much risk as it does reward. It's the exact same thing that Bugatti does. Their cars are not worth $2.5m they sell for, it's about status and word of mouth. For this to work, you need people to talk about the artist, or even like the artist, that's not guaranteed at all. The jumps this woman makes are fictional for the most part. She's probably just salty no one wants to do this with her shit art.
* I was partially wrong about her shit art guess, she also hates rich people.
What’s worse is that the laws allowing the international movement of works of art is protected in the same way the Diplomatic Luggage Status works.....
Basically, the law allows the sender and recipient to keep the exact details secret and customs etc are not allowed to be opened or inspected.....
Q gave us some good links to this early on .... about early 2018....
WWG1WGA
"...you've essentially saved yourself $9 million plus in tax every single year."
Nope, you've acquired a tax WRITE-OFF in the amount of $9 million. Not even close to being the same thing. Without knowing the tax burden of the individual in the hypothetical example, the $250,000 investment might not even pay off.
I'm not saying there isn't a scam in the art world, but this video doesn't understand enough about income taxes, etc., to explain it properly.
This is so false. You can't just "make $10 million dollar art" as she states at about the 2 minute mark. After that she goes on to say that appraisers are in on it, which would absolutely hurt their value (livelihood) if they did this more than once. She also says that you need to market this person. None of this is guaranteed to produce any sort of value. There is no reason an artist, or their group of friends couldn't try this same on their own. She goes on to say that this scam would cost ~$250k, what if it doesn't work? Do you talk about how much they lost on previous endeavors, trying to hype up artists that never stuck? That no one ever talked about again after spending that money? No, of course not. This is an advertising and marketing exercise. It contains as much risk as it does reward. It's the exact same thing that Bugatti does. Their cars are not worth $2.5m they sell for, it's about status and word of mouth. For this to work, you need people to talk about the artist, or even like the artist, that's not guaranteed at all. The jumps this woman makes are fictional for the most part. She's probably just salty no one wants to do this with her shit art.
* I was partially wrong about her shit art guess, she also hates rich people.
Search "pedophile art in embassies". It'll explain all you need to know.