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paulpauper 36 days ago | hide | past | web | favorite

What this rant neglects to discuss:

- Many countries tax capital gains on art transactions, just like any other assets [1]

- Capital growth in high-end art is part of what stimulates demand for work by emerging artists, and purchases of artworks from emerging artists is one way that wealth is passed directly from rich to poor.

A notable example of this is works by indigenous Australian artists, which are sold at high prices to international buyers through galleries and dealers who work with the artists to help reinvest the proceeds for the benefit of their community and to train and develop younger artists.

[1] https://www2.deloitte.com/content/dam/Deloitte/lu/Documents/...

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