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Posted by grove on March 03, 2010
Scams: scam number 1) accountant buys 50 paintings from one artist for 100 dollars a painting.2)accountant gets appraisal on ONE painting by artist that sells for regular retail (not 50 at a time)- so , say $1,000.00 appraisal. 3) Now accountant has paid 5 thousand dollars for 50 paintings, but appraiser says ONE painting by same artist can sell for One thousand dollars.So, accountant donates 50 paintings which are now ON PAPER valued at 50 thousand dollars.4)Accountant gets TAX WRITE-OFF worth FIFTY THOUSAND DOLLARS & he only shelled out 5 grand. (this is a Canadian loophole in charitable donations that recently was closed up- a pile of accountants & scuzzy artists got caught. I actually was asked, this is how I know- personally couldn't paint 50 paintings in a row...Didn't need the 5 grand. Decided they were assholes. Said No.
Posted by grove on March 03, 2010
Scam number 2...1)Person embezzles money from Merrill Lynch, from one of his big clients, say 10 million dollars U.S. 2)Person meets art dealer on cruise ship Royal Carribbean or whatever...3)Art dealer sells person Fake Dalis & other crap art which ON PAPER ONLY says it is worth 10 million dollars U.S. 4)Embezzler moves to the Cayman islands, ships fake crap art valued on paper at 10 mill U.S. 5)Art dealer flies to Cayman islands 6) Embezzler says "This art is fake crap art!" 7)Art dealer issues a refund worth 10 million U.S. minus a buyer's premium, shipping & other crap expenses. 8)Art dealer takes fake crap art away, (or alternatively, fake crap art is shipped back to fake crap art dealer, wherever, say, Michigan...9)Embezzler has now moved 10 million dollars from say New York, Michigan, wherever, to the Cayman Islands where it can earn money income tax free & no-one can find it, minus of course a big chunky commission to asshole mule crap fake art dealer who is accomplice in this money moving income tax avoiding embezzling crime...10)variations on money moving are possible, for various reasons...Mostly just avoiding taxes in whatever country your money is in, without anyone knowing, using art as a mule...(That's why they transact this bullshit on cruise ships.- Like anyone is buying thousands of dollars worth of art on a boat!!!) 11)The beauty of this scam is that the embezzler cries "Fake art" & the money gets refunded...& all the elves in the fine art community think justice has been served. Trith is, this is just a money move- they don't give a shit about the art- they just use fakes cause no-one would allow a real Dali to be treated that way-moved around-on a wet boat?
Posted by grove on March 05, 2010
Note: Notice: On the comment above, the so called victim of puchasing fake crap art & the seller of fake crap art on the boat ARE COMPLICIT... meaning: Both parties know exactly what & why they are doing ...The buyer & the seller are just trying to launder & move mnies gained by profiting from crime- NOT trying to buy or sell art at all...This is how you get galleries who appear to be selling alot. It is a laundry for money, Not an art gallery.
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