Art + Taxes = The Dirty Truth

[@vlogbrothers]

This is such a good and disturbing video. It's so strange to think that the art market in the U.S. is so heavily subsidized by the U.S. government, not through grants to artists but instead through tax writeoffs to the richest Americans. -John

[@meg1653]

vlogbrothers I'm so glad I saw the video on the vlogbrothers and sent me over here! I forgot how much I LOVE this channel.

[@b0bbymoon452]

Why not ask yourself a better question? Why the hell do we need useless museum in the first place? Without them, they would have no means to do tax writeoffs. Then, ask yourself another question, why do the rich need to pay taxes? They worked hard for what they earned, and all you are doing is bragging that government didnt take enough money from them? Let me give you some figure, the bottom 50% of American pay $0 in taxes. A big fucking zero 0 !!! The "richest Americans" that you are complaining, despite all these "tax writeoffs", they still contribute a fucking big portion of government tax income. Last but not least, if there is a choice, government should always take less money from rich people rather than give more money to "artists" because why? Rich people will re-invest their money, create more jobs, stimulate economy, create better product that improve the society. Artists? Draw some useless shit. To see you receive so many likes really illustrate the stupidity of American.

[@nickoliekeyov746]

@B0bby Moon yikes

[@jennyhughes4474]

If this vid is true then it's tax-payers, all the people (WE pay for government), who ultimately pay for profits for collectors, insurers and art dealers.

[@bobbie3713]

If you like her video so much why dont you marry her

[@m.aburas]

I come from the same country that bought the da Vinci painting, I am the first in my country to get a PhD in contemporary art history, and even before this incident I have been trying to explain this to my fellow artists and my art students. Unfortunately I have been accused of being jealous, ignorant, and paranoid. We are witnessing a boom in the international art market for Saudi artists because of all these Saudi billionaires but unfortunately on a daily basis I see artists quit their style and start to copy the ones that got sold to cater for their taste. I cannot express enough how lonely I feel as a historian, as an artist, and as a women in a place where your thoughts are taken lightly if you are a women with a higher education to discourage you and everyone else from sharing them in public, nevertheless if it threaten the interest of the wealthy. So thank you for putting this video out there, it helps people like me to feel less crazy and less lonely!

[@theartassignment]

I very much appreciate your words here. The stakes of this inflated art market are high. Not just for individuals who are interested in the field for non-market reasons, but for the future of art and art history. We must persist!

[@christinecapili2214]

Here in the Philippines, we have quite the same issue. Small artists that need profit for a living tend to copy from auction darlings rather than taking the hard road of finding their own identity in art. This thinking made the scene here redundant, seeing the same things over and kver again, seeing the same people in the pedestal repeatedly, it's very rare to find someone new and unique. It makes the scene to small and art making a luxury.

[@ShaudaySmith]

Your story sounds so interesting!! Seriously. Just from this little snippet of what you wrote about what you deal with between your students, fellows, and clients makes me wish someone would make a movie about it!

[@davebalmada]

I applaud you and hope you continue doing your valuable work. Especially in a country like yours where more gender equality is needed. You are very brave and a force for good!

[@kobefitzpatrick8643]

Why are you victimising yourself?

[@Xenolilly]

My sister just spent a weekend visiting small privately owned art galleries. I was surprised there were so many in a nearby tourist town. She said it cheered her artistic goals to see one doesn't have to become part of the big scale art scene to be successful or appreciated. Perhaps none of their artwork will be used in tax evasion but they are making art that is beautiful and loved.

[@theartassignment]

There are so many great places showing innovative art that have nothing to do with that system. That’s the world I try to pay attention to. But after four (!) years of making videos I thought I should at least touch the topic. But best to keep your eyes on those places and your blinders to the rest, imho.

[@Xenolilly]

I am glad you did. It is part of the art world and we're here to learn. :)

[@DAYBROK3]

There is a small gallery that is run by a high school art teacher in my town. They do painting rumbles (think art battles only for this one gallery, for two hours with auction at the end) if I’m up to it I go do.

[@ShaunakDe]

Small galleries near tourist towns? Sorry to say, but they are more or less set up to serve the foreign wealthy market.

[@charmerci]

@@ShaunakDe - Or more likely, just cater to the tourists who want something from that area.

[@TheModernInvestor]

Its also the easiest way to launder money between countries, The Chinese have been doing it for 10+ years now because of their restrictions on how much money can leave the country per year. Buy a $100 Million painting, ship it to London, sell it there and open a new bank account. Between buying art and buying property these both help the rich stay rich.

[@Vladm557]

it's amazing how the rich use art to money launder and avoid taxes. For the money laundering part it's pretty smart. Obviously if you're in shady dealings you can't just wire 50 million dollars overseas without raising some eyebrows, and you can't exactly just mail $50 million worth of gold bars. But what you can do is have a random piece of art, have an art dealership that you have an arrangement with buy it from you the 'anonymous' collector for 50 million. Then art dealership sells it back to you, or your accomplices, maybe for like 52 million. They make a little profit, and you now have a piece of item that has been valued for 52 million that's basically as good as cash, and without any trace of it's origin because art houses don't have disclose where they got it. Since other rich people are in on the schemes also you can trade or sell that art anytime as there's always buyers looking to launder also

[@xdinoify]

what’s bizarre and sad and disappointing is the amount of artwork that was intentionally made to critique and combat the capitalist loops holes art falls into, and the institutions that hold power over art and artwork, that has fallen into the very same traps. it’s so discouraging as an artist and just as a regular human being concerned about empathy that this continues and really, really, will not stop.

[@garrettauzins3597]

I feel you. Duchamp would be rolling in his grave if he knew the kind of unironic evaluation and precedence his artworks/pranks (Fountain specifically) that the art world has tacked on, and even more artists today are seeming to roll in their sleep having to endure those tactics. I understand the necessity of art as capital in a capitalist system, but between the monopolising galleries and the exorbitantly expensive prices billionaires are attaching to works, something is in dire need of change/reform.

[@TheLily97232]

red it becomes a symbol. that's why I think

[@zvxcvxcz]

@user-eo1hw2kv1m We do NOT all desire a free market economy. A truly free market economy lends itself to a large number of abuses and perverse incentives. E.g. in a truly free market economy people could sell off their own organs, and there will of course be buyers looking to take advantage of people that don't really know what they're getting themselves into, just what the real value of what they're selling is. The sorts of stuff that also get thrown out in contract law. Sure, the Libertarians think they want a world where any contract goes, but in reality many of the contracts that would allow are ones that are currently thrown out as unconsciousable contracts, or for having abusive clauses, etc... We don't want to get squeezed by an outsized monopolist in the market either. When people see how truly free markets work in practice... they're not so appealing. Rather than free markets, what we really want are fair markets, and the difficulty in achieving that is that we don't all have the same vision of exactly what fair is, so it is constantly renegotiated through our institutions. Also, owning capital has never been sufficient to control a state as any competent state can seize any capital within it. Admittedly, not many states are competent, most are full of corruption. But ultimately, you can only bribe someone willing to take a bribe.

[@saoirseryan6355]

I'm so happy you made a video on this subject. I love art but the art market makes me pessimistic.

[@facuarroyo3249]

Saoirse Ryan same here

[@mikekeyes6102]

It makes me want to exterminate everything about it.

[@NoQuarter1995]

Capitalism

[@KevinRusso]

One of the best shows KZbin has to offer.

[@MarkHatlestad]

Fantastic video that rings close to home to me... Classical musicians who play string instruments are heavily affected by the market of antique instruments inflating the value of all professional level equipment, regardless of the antique instruments functionality. It is common for affluent collectors/dealers to hoarde wonderful instruments kept in storage for decades without being used in hopes of flipping them once they increased enough in value. Many musicians rely on instruments being loaned to them, since they are so far out of reach for a working musician. While this can be a positive relationship, many times it leads to exploitive behavior (particularly to young women), or the instrument being taken away with little to no notice to be given to someone "more promising" or to pay off a financial obligation. I'm very lucky to have been able to bypass the brunt of this market by playing a less-desirable instrument, but it is a pervasive part of classical music culture that I am extremely dubious of.

[@nzaround]

Thank you thank you for articulating this so clearly! It's a business practice that's closely guarded among the 1% and major financial institutions and it's damn near impossible to break through to see what's actually going on. The idea of all this art sitting in the dark against its whole purpose is definitely nauseating. Keep up the good work!

[@pennykent5687]

Where did I hear it??? Hummmmm. "The rich sell to the poor (over and over again), and the poor try to sell to the rich." - I don't know, -thought it applied. Just putting it out there. -Maybe the best revenge is just creating great art, and Loving the process. -Enjoying our God given talents,.... and letting the rich go screw themselves😀. I'm sorry, that's not nice.

[@henryorton2633]

Curiously concerning. I believe a similar market exists for fine musical instruments. For example, none of the best violins in the world are actually owned by musicians because they could never afford them.

[@pennykent5687]

Great point! Yes, something to think about.

[@Efflorescentey]

The best drummer in Australia (maybe also the world? I found out about him 6 years ago) was working at subway

[@hedgehog3180]

Tbf if you mean a Stradivarius violins they aren't actually very good, it's kinda just hype. But I get what you mean, it seems mind boggling that these famous instruments aren't owned by musicians. At the very least we can take comfort in the fact that the actual best violins probably are within their reach.

[@ShaunakDe]

Any commodity whose "value" is tied to "emotion" is open to such a market. When you say "interpretation" accountants hear the word "fungible". You can basically get that work "appriased" to curiously match the value of how much tax you need to wipe out. And if you get it wrong, no biggie, your lawyers will sort it our and keep you out of jail.

[@ShaunakDe]

This is also why hollywood technically never turns a profit... but that's another story.

[@iheysema]

I'm really shocked right now I live in Geneva and I wasn't aware that there were so many artworks hiding in our city. I know they are in Geneva because Switzerland is a tax haven but still Geneva can sometimes be so poor in cultural resources... That's a pity

[@theartassignment]

I’d never thought of it from the perspective of a Geneva native. The tragedy seems all the more acute from closer range! Thanks for commenting.

[@lorenabpv]

halfway through the video i was gonna say i love the shadiness, but i watched everything before commenting (lol) and it's not shady at all, it's wonderfully directly critical and i love it as well

[@Mikey-fi8bb]

So the entire art market is completely inflated and kept afloat by tax deductions. We're giving a small few unfair tax cuts while simultaniously subsudising driving prices out of reach for society and museums whom those very same deductions are meant to benfit? Sounds like art deductions seriously need to be regulated.

[@sangoluvsmiroku4eva]

It really makes me sad how much money talks in the Fine Art world. I have friends who want to put their work in museums and they are either struggling due to how tight-knit the rich social circle is or have become deterred from pursuing their fine art dream because of the shadiness of it all. :/

[@brettblaster]

Seeing this 5 years later and seeing that's completely not true lol

[@maxbeddows7701]

And if the artist is dead that cuts out the "middle man" of the transactions. That's why artists become famous after their death.

[@jedje]

“Grown-ups like numbers. When you tell them about a new friend, they never ask questions about what really matters. They never ask: ‘What does his voice sound like?’ ‘What games does he like best?’ ‘Does he collect butterflies?’ They ask: ‘How old is he?’ ‘How many brothers does he have?’ ‘How much does he weigh?’ ‘How much money does he have?’ Only then do they think they know him. If you tell grown-ups, ‘I saw a beautiful red brick house, with geraniums at the windows and doves at the roof…,’ they won’t be able to imagine such a house. You have to tell them, ‘I saw a house worth a thousand francs.’ Then they exclaim, ‘What a pretty house!” - Antoine de Saint-Exupéry, The Little Prince

[@ShaunakDe]

Love the little prince so much.

[@avsky837]

This is why so many artists mix their shit in with their paint knowing full well it'll inevitably be treated with the same regard.

[@prisillaspace]

I'll never forget that bumper sticker I saw & read years ago.....'he with the most toys still dies.'

[@emersonjakes8119]

Prisilla Cope someone needs to tell that to my grandfather

[@prisillaspace]

Emerson Jakes awe....he must be a fun grandpa....don't tell him....everyone loves a surprise 😀

[@emersonjakes8119]

Prisilla Cope LOL

[@johnbatt2435]

I bet a lot of the people buying art at these prices speak Russian, too.

[@mujtabaalam5907]

When a billionaire auctions their art, they can buy it from themselves via an agent to eliminate any risk of the auction failing.

[@rosianna]

So interesting and SO disturbing!

[@lightbox617]

first, you have to render out the fat. You can reserve this to use for French Fries

[@Rhaifha]

I'm glad people are encouraged to donate art works, but there's clearly something wrong with the current system.

[@itmovesitchats]

It feels weird to call it a "donation" when they profit off it too. Like we're missing a word for this.

[@matthewjackson9615]

What you're talking about here has been mentioned many times throughout history and that is commercialization ruins everything. Just about everything that becomes commercialized is ruined. Art, music, entertainment, etc. was ruined the day it became commercialized. It's been this way throughout history. At least now with the advent of the internet, one can view the works of independent artists whose works would never find their way into a mainstream art gallery.

[@deeptiboddapati2380]

What will happen if the government decides to regulate it? Is there an Art Bubble that will burst?

[@theartassignment]

The bubble will likely burst regardless of regulation!

[@deeptiboddapati2380]

The Art Assignment that makes sense thanks! I'm super curious now I'm going to learn more about it.

[@812guitars]

I'm sure it's starting to happen in the guitar market. the 1959 Gibson Les Paul has passed the half-million-dollar mark a few years ago. As far as I know 1200 exist, but only about fifty or ever heard from.most are kept in vaults which I'm sure are just like these freeport's for art.

[@divertissementmonas]

What an eye-opener, I understood there was eye watering amounts of money in the art market. However, never knew how it worked to benefit the already wealthy! Here in the UK where 'austerity' measures have been put in place, the government is withdrawing funds from art. So art in the UK too will be dictated by what the art market stipulates. Not sure whether this has always been the case ever since artists in Europe were 'liberated' from having to work for patrons and hurled into the art market.

[@munusshih4936]

I love your shows so much that I would love to translate all the subtitles into Chinese so that many people can understand the concept with ease ❤❤❤ I've already submit a translation of "the case for Abstraction" since it's my favorite! hopefully I'll have time to do more.

[@theartassignment]

Thank you! We really appreciate your enormous effort. As much as you would like to do, we would welcome. Sorry that we don’t have the capacity to do it ourselves!

[@orkidbox]

I like what you said about it affecting the art that gets made. This is an important point. Artists get affected by the art market too.

[@michealkelly9441]

The market is one thing....publicly unavailable art is another

[@MichelleThomasson]

Thank you for your clear insights and erudite explanations, this one especially. Also appreciated you sharing how it makes you feel, please pass the sick bucket! 😬 All the best.

[@lensman67]

Art prices are so high because investors are using art to reduce their taxes. Eliminate that incentive to drive up prices and the prices will drop to what the work is really worth--what others will pay for it for its own sake and not for its investment price. Also, when a work of art increases in value and the owner sells it income taxes should apply--big time. When art is art and not an investment then it will become more accessible to the public. Art does not have to be expensive. The Pre Raphaelites were able to reach a wider public by selling copies of their works, viewings of their works, prints of their works and book illustrations. In Japan the Ukiyo-E artists designed their work to be available to a wider public from the git-go but this did not lower the "quality" or "worth" of their work. Art is expensive because we allow the super rich to exist at all and then follow that by giving them reasons to drive up art prices. Both should end.

[@insertwittyprofilenamehere]

Thank you for tackling this subject. Too often all that's talked about is the ridiculous price some art work has sold for, and not the unsavory practices that led to such inflated prices. I think the high end art market is undoubtedly a bubble that will burst. It's just such a shame that the smaller, local art markets don't get media attention like the expensive ones.

[@thewayofthetangerine4805]

Thanks for the video! Great explanation. Just wanted to say, that there are also thousands of artworks locked away in every museum in the world.

[@theartassignment]

That is a good point! But at least they have the chance of being seen. Museums only have so much square footage and do their best to rotate works on fixed budgets. Also there are a great many works in museum storage that only see the light of day every few years because light will degrade the material. Also tastes change, and sometimes a work will be hidden away in storage for decades before a new curator comes in and "rediscovers" it. Or a work suddenly becomes relevant again because of current events and reconsiderations of history. Good museum staffers know their collections and try to make the best of them, while also keeping them safe for future generations. But still, good point.

[@elsef6798]

Thank you for that brilliant video - so informative and thought provoking. I really wish another word would emerge for what is described and going on. Something without the word "art" in it. It really has nothing to do with art but is a scheme and might as well be potatoes in stead of paintings. It brings shame to art as a whole and I secretly cringe when I have to call my works art. Many people today don't see anything other than a bad/good financial investment.

[@theartassignment]

Oh that’s a good challenge. It’s tough to come up with another word or phrase for it, as the objects of exchange are indeed “art,” although I’d argue they lose something in the process. Object exchange? Or is it just part of the luxury goods market, same as a “time piece”? Any ideas? Suggestions?

[@carsonbills5196]

This is my favorite art assignment video ever

[@narutofan4545]

And people still think the rich are our friends Amazing

[@maythesciencebewithyou]

No, people think "I want to be rich and do this, too". People think of themselves as temporarily embarrassed millionaires. They are just one lottery ticket away from it.

[@brisvegas859]

all the buyers of art are at eyes wide shut parties

[@twalton]

This was such an excellent video. Thank you!

[@KearnuPhoenix]

Not to mention how the underground (child) sex trafficking market is deeply rooted in the art market. This is another reason why many rich people are so involved... Marina Abramovic, The Podestas, James Alefantis' Pegasus Museum, etc.

[@jiveturkey9993]

I wonder how many clowns running in those circles work for PBS?

[@tryitout-701]

You missed the money laundering angle, which is a lot bigger than tax avoidance.

[@innocentoctave]

Excellent video. There is too little public discussion of these issues. Nobody interested in art is completely free of the effects of the market in artworks. It's long past time that the market was regulated.

[@JadeDRail]

It's frustrating I have trouble seeling a painting for something like 100$ but there's some selling for billions. It's just a little frustrating. I just want to pay for my time and material so I can keep painting.

[@lensman67]

Art is a commodity--and ONLY a commodity. Beauty is in the eye of the checkbook holder.

[@jmarcin]

Replace all that talk of "art auctions" with "stock market" and I feel like it rings just as true. Regulated or not, it's all just a shell game for rich people. Lame.

[@LilyN2099]

i'm on the same wavelength, sarah, i'm not a big fan of the art market either.. maybe that's the part that always pushed me away from fine arts and more toward illustration

[@megansheetz1070]

This is a fantastic, informative video and I want more of them!!

[@davidwilsonBC]

Just for the record, my art is not a "commercial product". Despite popular opinion, money is not God.

[@danielkwan5711]

THANK YOU!! THIS EXPLAINS ALL!! all caps off now.

[@insightfool]

I wonder if some mechanism is on offer to somehow gaurantee ensure that art that is sold does not wind up in a freeport?

[@tsf1834]

I loved this video! It was amazing! Thank you so much :)

[@kweightthree]

I'm here because Hank told me to come here. Glad I'm here.

[@Desalt511voider]

This is a great video. I am watching it considering buying a piece of Daniel Arsham’s work, and being a little apprehensive about the price I wanted to know if I had a change of heart I would be in good financial footing afterwards. Thank you for making this video, as it has reminded me that I should buy it because I love it and it inspires me :-) when we turn our personal decisions into financial decisions, we are viewing what could have been the source of our joy through an entirely different lens that robs our object of admiration of the ability to fulfill its fullest philosophical potential in our lives. Again, thank you for this much needed reality check.

[@Krisjennewein]

So....really cool if we could get over this. The nut; I believe is that Art is more important than Money.

[@TheBubblypumpkin]

oh "good" the rich get richer while the artist stays starving...

[@harryjang3408]

Or the artist of the now-expensive paintings thanks to the rich, can produce more paintings to reap massive wealth. Your logic is flawed.

[@jacob_ian_decoursey_the_author]

Not if you're Damien Hirst.

[@monkeymilk8060]

Harry Jang they make a work only for someone else to get more money from it. You are the flawed one.

[@suides4810]

Harry Jang nah most artists pieces are only that high in price when the artist is dead

[@sheepketchup9059]

@@monkeymilk8060 it's only like that when your artworks are not famous, the rich BUY your artworks and make it an investment, and they will invest in you more. Someone gotta give you money. You're the flawed one here.

[@gardenhead92]

So in summary, you either donate it for a charitable tax deduction, or sell it for a capital gains tax deduction.

[@theartassignment]

Or, you can keep the art! (And give it to your kids or a museum when you die, which also has tax and estate implications that are important to consider.)

[@wertiaaudit5746]

@@theartassignment i dont want to die though

[@ARTiculations]

One of the biggest challenges we do face at the AGO is that our collection is largely contributed by donors. Thus our collection is heavily Eurocentric. While there has been an effort to increase diversity among the collections over the last few decades it has also grown increasingly difficult to do so. I try to point this out to visitors on highlights tours. I still think we have a great collection and many works in the European collections are still interesting to explore, but I think it's important to point out the uncomfortable realities in our institutions, and maybe use this as an opportunity for discussion with visitors.

[@greenatom]

These are the the circumstances whereby artists like Cy Twombly or Gerhard Richter can sell ridiculous garbage for vast amounts of money. They are gaming the system too.

[@littl3chik0r1t4]

Can you do a video on how artists who make things figure out how to claim their taxes?

[@ultraali453]

We have an art gallery in our family and I can tell you that artists who sell expensive paintings often have to be appraised by silos of connected people.

[@realityisfake]

The nexus of art and money will always be weird. It will always bother some people. I think if you try to fix it, it's just going to be weird in some other way. There's just too much subjectivity and emotional force involved.

[@erstwhile-lost]

Heist movie where they break into the free port in Geneva Switzerland. They don't steal anything, they just want to see the art.

[@DonovanPresents]

Wow. I did not know you can do that!

[@inframinced6698]

Thank you for providing such a well articulated, educational video.

[@OUTINTHEDARKfilms]

i love this video because as a creator i was getting so worried about if i should even go on tbh what if a freeport owner opened the storage space for viewing, still keeping it for what it is, a freeport, but showing works anyway, im sure they earn enough to put a few on display

[@SpinesAndSplines]

I only learned about free ports recently, I think on Planet Money, and every time I think about them I die a little inside. I even have two art degrees, and they don’t teach you about them at art school (probably for good reason).

[@SpinesAndSplines]

Although I guess I should probably name my set of plan drawers “Free Port”, with the sheer amount of amazing art purchased or swapped with my peers that I have sitting in them, hidden away until the day I eventually frame it. 😬

[@theartassignment]

That is my kind of free port!

[@safasaleh3010]

How ridiculous this world has become

[@russellfranklinwrites]

Interesting. It really reminds me of the housing bubble that eventually burst with the financial crisis. I wonder if this bubble will eventually burst. All it takes is one shake in the collective confidence...

[@theartassignment]

It must burst, mustn't it?!

[@aleksanderk6765]

Holy fudge this was enlightening!

[@ovh992]

The business of art is a financial bubble that has never popped!

[@ty814]

Wow. Thanks for those info.

[@marvinraphaelmonfort8289]

yet another proof that being filthy rich is just being filthy, actually

[@letopizdetz]

Same thing happens with empty plots of land. They even have share options, their own evaluators and people to grease the wheels in the right departments, and bam - that useless piece of marsh land you bought gets estimated at suburban values, and donated to the right authorities or national programs for a tax write off. Tax evasion is a very serious crime... unless you're friends with the right people.

[@maythesciencebewithyou]

It's nothing new, but it's becoming more and more extreme, because the rich have so much more money today compared to a decade ago and before. Nepotism has always existed. In my small village in Germany the mayor is one piece of shit who forced people to sell him land, which he later declared to become a new settlement. He's still fighting with my father.

[@letopizdetz]

@@maythesciencebewithyou i think there's also a decline in critical thinking, i remember when i was young people knew any political office can be corrupt. Now somehow a lot of people treat them like sports team. "Everything good, happens because of 'my team' and everything bad is because of 'the other team" and a lot of whataboutism, people with no benefit from the corruption defend the corrupt people in power with brainwashed ideas lika "yeah but if 'the other team' wins it will be much worse". Even political campaigns boil down to "the other guys are trying to ruin you / the city / the country, vote for use, we'll prevent that". And people eat it up.

[@bhbhansen7128]

HELP I don't really enjoy a lot of Picasso's cubism work. Im not one of those ignorant abstraction haters, that only likes pretty things, I just don't respond to his works. I know he has been very important and influential, I'm not trying to discredit him in that way. I feel so insecure about it and a lot of art interested people, I have talked about this with seem to think I am some ignorant fool that only enjoy beautiful landscape art. Tell me why its so wrong not to enjoy his work on a personal level. I love a lot of other abstract art, just not a lot his cubism. I just don't feel anything looking at it, and it doesn't really grab my attention. It seems a bit dull and forgettable. I actually really want to enjoy it, and i try to be openminded and enjoy the art I'm looking at.

[@pantitapalittapongarnpim1581]

I don't see why you need to, though. I think understanding why he is important and enjoying his works are entirely two different things. I don't think you can discredit him by not liking him, but you'll probably feel better if you can articulate why. I know you say his works feel dull to you, so what about it that makes it dull? What is it that speaks to you in other works that you like? And I think it's fine for it to be an entirely personal reason. And if someone tries to make you feel bad about not liking Picasso's again, throw the ball back into their court and ask them what THEY like about his works, see if they parrot other people's opinions or they actually have their own. Ultimately, a taste in art is a personal thing, and I think anyone who uses the masters' names to lord over someone else is at best pretentious.

[@bhbhansen7128]

Thank you for tasking your time to respond:) The reason I find his work a little dull is that, especially in his paintings of inanimate subject, is that I find a lack of emotion. It feels more like a project than a piece of art trying to express or tell something to me. Admittedly I like some of his portraits, they can make me feel something, showing many different angels and flattening works and give the faces some character, but they feel a little repetitive in the end, which takes away some of the magic in my opinion. I feel like I can theoretically understand his works, but I can't feel a lot of the pieces on the inside.

[@johnappleseed7462]

bobob hansen his work is obstruction not abstract

[@bhbhansen7128]

It is abstract. As soon as a piece of art purposefully departures from the physical reality, its abstract. Just because something is based in a depicted thing or a depicted person, doesn't mean it's not abstract. Cubism is all about depicted scenes. Cubist abstracted from real life. Cubism is literally the starting point for many abstract styles. I would agree that his work is not total abstraction, but its still quite abstract.

[@pantitapalittapongarnpim1581]

Interesting, because I do sense something similar from Picasso's, too. I'm not a fan of his, either, and by the sound of it, I'm probably less his fan than you are. I actually like his sketches and doodles and early studies of a piece but not always the final version. I feel like in the process of making his art, he lost something that was in the subject itself, an individual essence of a kind. And I think that's similar to what you said about his art not expressing something to you or not make you feel anything. After he wrestled so much with it, there might really be nothing left to express by the end.

[@ty814]

Billions Season 5 had a episode about that.

[@kaiscorner6969]

There are always ways for people with lots of influence to make themselves more influential and more successful. I’m surprised at the amount of people who find this out of the ordinary.

[@MCAndyT]

You not wanting to talk about the art market on this channel is a nice parallel to Sarah Thornton's "Top 10 Reasons Not to Write About the Art Market": www.artmarketmonitor.com/wp-content/uploads/2012/10/10-Reasons-Not-to-Write-About-the-Art-Market.pdf

[@cleovanderveen240]

Andrew Thompson AndyT? Is that you? Of course we meet in the comments of the Art Assignment.

[@MCAndyT]

Ha! Yes, my friend, it is I. It's one of the best channels out there!

[@Audunforgard]

Thanks, I`ve wondered about these things for the longest time. Never seen your channel before

[@itsallaguesswork6685]

3:09 Why is the tax on capital gain (28%)/income (based on appreciated value) ignored in this video? You can't claim loss without claiming the gain, can you? The whole point about the tax scam is fully valid, the question is, why leave out a critical information?

[@fruitoson4227]

her voice is just so.. pretty...

[@AmbroseReed]

Thanks for doing this, it's a really important topic.

[@downunderveggiegardendiaries]

Maybe that is where Salvatore Mundi is?

[@dreninger]

As I understand it an artist who donates an art work to a charity sale can only deduct the price of the materials it took to create the art work from their taxes not the value of the work.

[@buenahschoir]

Thank you

[@j.adanherrera1800]

Let's be honest here, in the primary and secondary "market" Art+taxes =money laundering, fact.

[@Efflorescentey]

This is the first time I’ve seen the Yeti and I don’t know what I expected (she was such a mystery!) but I’m so pleasantly surprised

[@GreenGestalt]

And this is the part they admit to openly...

[@abw48]

Yet all that ancient Art sits in the Basement of The Vatican, but that Church still needs money..

[@buthwywho7438]

Would you do a video about some filmmaker

[@toddgrant7190]

Very well done, as always.

[@AlGreenLightThroughGlass]

Or public galleries could start buying talented unknowns at affordable prices.....

[@Twister915]

That five million valuation thing is a massive cheat for this video. It's unlikely that would hold up under an audit."Fair market value" does not mean whatever someone you can find says it's worth.

[@artanpreka]

Correct. The Government would not accept an appraiser's thought on how much the value of a very unique item has gone up in value. Also, if the painting truly did increase in value from $1M to $5M, it would make more sense to sell the painting and reap the profits rather than donate it a tax deduction.

[@FroehligGirlz]

What kills me is zillions of dollars of tax workarounds, and it's somehow criminal to use public services to make your life better

[@MusikCassette]

If you can deduct the appraised value from your taxable income how is the increase in appraised value not taxable income?

[@ethanomcbride]

I would kill for more videos on the art market

[@BrianHutzellMusic]

Investors who are only in the game for the $$ sour the game for everyone. I feel the same way about folks who buy up classic guitars (or other musical instruments) strictly as investments but NEVER PLAY THEM! It’s taking good art or a good instrument away from someone who could really appreciate and benefit from it.

[@acg4879]

Is this meant to be a new phenomenon? I'm reasonably sure it isn't, or at least that this kind of commodification of art as financial capital has occurred in the past to a (relatively) similar extent. For example, Florence during the Renaissance seems to be a remarkably similar case. What am I missing here? (No. Really. What am I missing?)

[@pennykent5687]

Yes, I believe I've herd of this years ago too. It's wasn't really shouted about in the media. I've learned by now, that many of the things the media really doesn't want the public to know, will often only be a blerp in the news. Ssssssh. All the more reason we should be "TALKING TO EACH OTHER" in our artist groups.☺️ Not isolating. We need each others support.😀

[@NormYip]

Thank you for posting this topic, something that I’ve only begun to understand recently, although from a less detailed description. It’s shadier than I thought. Kudos on the red bucket clip. Was it your idea? I think so. 😏😊😂

[@TaylorMade511]

Rich people screwing the rest of us.

[@80s_Gamr]

I was under the impression capital gains taxes were higher. Hell... they take 40% just out of my work bonus. Don't you also hear about lottery winners losing a boatload if they take the lump sum... to the tune of more than half the total amount?

[@lolyouwontfindme6070]

I’m abouta use this. Maybe not on such a giant scale, but still, this info is useful thanks !

[@ericswain4177]

Its all just a sick game that has tainted the aesthetics of Art. I collect primarily on the aesthetics of art , yes I will pay a bit more for art I really like. ! I believe that there is just as good or better Art in the common art market than the "Blue Chip" or in the high end market.