Some people drive a Mercedes, some people are perfectly fine with the amenities of a Toyota.
Both vehicles are, um, can, well .........
Both vehicles are, um, can, well .........
Ponzi Schemes and cues!
- Thread starter Shooter08
- Start date
High dollar tax shelter?
How does that work? I'm clueless.
Zerksies
Well-known member
Their is no formula for pricing "Art" I could sell my kids finger paintings for $200m and claim a loss. Their is a whole bunch of tax loopholes in "Art"
DeeDeeCues
Well-known member
I'm waiting on a Hunter Biden cue that he's building. A real work of art and should be here on the next container he's bringing in from China.
That's a fraud. There is no original Picasso oil painting that is only $60k. That is a painting done in the style of Picasso similar to a couple of paintings he did of his girlfriend, Dora Maar.On E bay
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Here is one of his simpler (and cheapest) paintings of Dora:
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DeeDeeCues
Well-known member
Probably true. Not my favorite of Picasso's styles.
The Old Guitarist is one of my favorite paintings.
If you buy artwork as an investment and hold it for XXX amount of time, there are ways not only defer taxes upon sale, but also legal ways to completely avoid taxes upon sale. That’s why the ultra rich invest in high-end art. Additionally, if they buy a piece of artwork, and it appreciates, a donation of that artwork to a museums gives them a donation tax deduction off their tax liability of that appreciated amount not the initial amount.
There are all kinds of legal tax write offs out there.
And for something even more abstract, here is a painting that sold for a quarter-million painted by an American artist that you have probably never heard of. The pool connection is that I borrowed his son's pool cue (a Brunswick Master Stroke) and managed to get it stolen.
Not necessarily
One man’s junk is another man’s treasure.
I have zero use for Cuban cigars, to some people they are worth $100 each.
Art is a great place to store huge amounts of cash.
it is a pool player forum in the end......
But of course
Some people can't leave politics out of things.