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The Art Market is a Scam (And Rich People Run It)
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The Art Market is a Scam (And Rich People Run It)

Wendover Productions
Wendover Productions, 2021
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8

Qualities

  • Eye Opening
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  • Overview

Recommendation

Have you ever looked at a canvas splashed with paint, had a peek at the price tag and thought to yourself, “My 2-year-old could do that, and she would charge far less than $4 million for her work”? If so, you’re not alone, but you also don’t understand the modern art market. According to this informative video from Wendover Productions, fine art valuation has less to do with artistic skill and beauty, and much more to do with shrewd financial moves, tax avoidance and market manipulation.

Take-Aways

  • The fine art market is small, subjective and unregulated.
  • Only a few gatekeepers – with a vested interest in manipulating the market – decide the value of art.
  • The art market benefits wealthy patrons by allowing them to engage in tax avoidance and money laundering, but it hurts art lovers and most artists.

About the Speaker

Wendover Productions is an educational YouTube channel created by Sam Denby in 2010. His other channels include Half as Interesting and Extremities.

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