It’s hard to put a standard, market value on art. …Perhaps this is why the art market is so rife with fraud and money laundering.
Although I am not a buyer or collector, I am intimately familiar with how the art market works—paintings and images are essentially tokenized representations of wealth that come with a bevy of benefits.
Kickbacks, tax-free gains, and unreported, under-the-table income are among some of the most alluring dimensions of collecting, buying, and selling art.
In 2022, blue chip art was the best-performing asset class by far, making average gains in the thousands of percentage points—this is the power of the art market.
Hunter Biden is no stranger to these benefits and seemed to experience a personal creative renaissance when he started selling his art at roughly $500,000 a pop. …
To put this in perspective, a signed Picasso can auction for…
