Literally 90% of the comments:”art auctions are used for money laundering”.

@dosantosbojan

4 жыл бұрын

Because it's true...

@humanrightsviolation7987

4 жыл бұрын

Truth hurts?

@governmentcontractor765

4 жыл бұрын

They’re just copying each other’s comments. 80% of them wouldn’t have commented that if they didn’t see the top comments..

@gundamnduke0

4 жыл бұрын

they are just comment laundering

@patw.6567

4 жыл бұрын

i mwan its kinda true

Imagine being so rich you have the two biggest auction companies rock paper scissors against each other. Those are some mega balls of steel.

@HunterMann

Жыл бұрын

Good point, if you look at it from an acquisitions point of view and trending markets, my prediction is that the two auction houses will someday merge, and then they will really be a much bigger combined monster to be reckoned with

Art is just a way to launder money.

@yugiohpokemon5285

4 жыл бұрын

So are cars houses and trading cards.

@Abel1120

4 жыл бұрын

explain

@yugiohpokemon5285

4 жыл бұрын

That shows you dont know how money laundering works.

@Abel1120

4 жыл бұрын

@@yugiohpokemon5285 your stupid... i asked to explain because i dont know... you could explain it to me.

@ayoubdado7927

4 жыл бұрын

Expensive art*

When you have so much money that you don't know where to store it anymore.

@putra_maliki

4 жыл бұрын

Just let it hangging on the wall...

@silvaphoenix3652

4 жыл бұрын

F Fuentes also the best way to launder money

@maythesciencebewithyou

4 жыл бұрын

@@johndoew9777 Because we all know that your beloved Trump is a poor man

@bigtosz

4 жыл бұрын

@@johndoew9777 Hillary's not the one who uses Foundation money to buy portraits of themselves to hang in their cuntry clubs.

@francethemc9416

4 жыл бұрын

How about Picasso? Or is it the buyers who are laundering it? I don’t get it?

Shout out to the Asian guy that had them play rock, paper scissors. Priceless. Good educational video.

@aBOOBaMUSIC

3 жыл бұрын

it adds more to the story of the art

@WiseOnion

3 жыл бұрын

Dude just say Japanese guy. Asian is a broad ass term.

I wonder how many assassins would come after me if I stole all the art in one of their auctions

@resmur8095

4 жыл бұрын

Nah they won't send assasin to you they just called the authorities and you will be charged with grand larceny

@patrickm5217

4 жыл бұрын

Tom Cruise will come after you

@night00glider

4 жыл бұрын

Serial number : 11.1.1.1

@shajanmiah5063

4 жыл бұрын

They would just pay someone $50 to paint them again and pretend they're legit.

@itzdcx7991

4 жыл бұрын

You just got yourself on the FBI watch list buddy shouldn’t have said that 😂

I swear some of these expensive art paintings look no different than goodwill paintings for $5

@museonfilm8919

3 жыл бұрын

I know - it's mainly hype. Just like the music industry.

@AquaMarino

3 жыл бұрын

About materiality and matketing.

@YoungCoyy

3 жыл бұрын

🤣🤣🤣

@-rubinski-1030

3 жыл бұрын

It’s often not only the painting itself, but more the story behind it what makes it popular and therefore expensive. Think about banksy who hates these auctions, however his painting was sold for a million pounds.

@saaramohamed8921

2 жыл бұрын

Lol nope.. do u paint or draw

I'm addicted to binge watching CNBC and Business Insider

@CarlosSanchez-en6mr

4 жыл бұрын

Isaiah Lali try alcohol

@seanrenner25

4 жыл бұрын

Some of the best content to be honest

@airmark02

4 жыл бұрын

Then that means You addicted to Fake News ~ Please get some help

@zapfanzapfan

3 жыл бұрын

Get back to work you lazy bum and explode more rockets! :-)

@rigg13

3 жыл бұрын

@@seanrenner25 You mean some of the best click baity content?

All these people have really weird smiles at the ends of their sentences. Like they know it’s a lot of bs

@knowledgeiskey1319

4 жыл бұрын

YES that lady at 8:37 made me want to smack that weird ass smirk off her face

@dylanolic713

4 жыл бұрын

ItS ArT ThOuGh

@ronagoodwell2709

4 жыл бұрын

Facial punctuation.

@campkira

4 жыл бұрын

basically they do nothing to get high fee....

@kamu747

3 жыл бұрын

Its the smile of satisfaction, comfort and prestige. Its a good place to be at when you can smile that way.

The fact that he says the buyers are coming from whatever sector of the economy are doing well says it's obvious they only use these as vehicles to move cash and dodge taxes. They aren't interested in the art. You don't have to have money to suddenly be interested in art.

I used to work for Sotheby’s in HK and I have to say, it’s quiet snotty and had a sense of elitism when you’re in high art appraisal & auction market.

@chidisimon7404

2 жыл бұрын

Hey. A Little chat please. I'm on instagram @thinline_studios_of_art. Thanks

@SantaBarbaraBiking

2 жыл бұрын

That sounds about right.

Rock Paper Scissors is a genius marketing ploy for the individual. You know the piece is valuable and so you decide its fate on luck sparking controversy, free press coverage, etc. Very smart.

"The world is generally a much richer place then it was a few years ago." I've never gotten a sense of this in my neck of the woods.

@calamorta

4 жыл бұрын

but it is, the issue is that poor people are just a bit less poorer while the rich are much richer than before

@GamerbyDesign

4 жыл бұрын

@@calamorta I don't know where your from, but where I am from the poor are pooree and the rich are even rich than usual. I feel the poorest I've ever felt in my adult life.

@flakgun153

3 жыл бұрын

Doesn't matter how it feels to you. The math checks out.

@flakgun153

3 жыл бұрын

@@calamorta Nah. Globally the richest people are feeling the heat as jobs move to poorer countries. The global poor have never been better. Only unskilled labor in rich countries are feeling left out.

@GamerbyDesign

3 жыл бұрын

@@flakgun153 Would like to see your math. My math says wages have not gone up in over 50 years.

Two decades ago Christie's and Sotheby's were found guilty for price fixing and they're still at the top of the game today.

*Gotta ask my mom where she kept all my paintings what were on the fridge.. looks like I'm on my way to becoming a millionaire*

Kind of amazing that France and Italy have such a small amount of global art market share, both widely fostered and birthed multiple forms of art. And since when did the US become so artistic 😅

@hennisdoffman5412

Жыл бұрын

Especially when the US have less than a handful of great artists. The answer? Capitalism.

@ziraprod6090

9 ай бұрын

We have more money. (not me) because we have been free.

Conclusion:- Its not about what you sell, Its how you sell and to whom you sell.

@ziyaazmak

4 жыл бұрын

Pranjal VW no this is money laundering

@pranjalvw2193

4 жыл бұрын

@@ziyaazmak yup

@phanders6236

3 жыл бұрын

It's only when it comes to art people have that objection that it is elitist but are fine with it in any other industry. Everyone assumes you are a moron in you want to dig a little deeper in your understanding of what captivates you/moves you etc. It's also often people who have no interest in art (and thats fine) who are suddenly experts on what is percieved as "good" and "bad."

New headline: How two criminal front organizations dominate the 67 billion dollar art trafficking industry.

@markmolino6091

3 жыл бұрын

That's the real headline right there.

@maticbukovac6966

3 жыл бұрын

It's probably the same with the diamond and precious stones companies, all descended from colonial-era operations...

it`s not an art market, it`s an asset market.

@r3dp1ll

4 жыл бұрын

exactly

@evilmanua

3 жыл бұрын

@vlad wick Yeap. Art World is a creative scam, a way to transfer wealth and avoid taxation.

@bluesque9687

3 жыл бұрын

Ass

@phanders6236

3 жыл бұрын

It's only in the art market where people are annoyed with people making money. But in ANY other market people don't have a problem with companies making money.

@bluesque9687

3 жыл бұрын

@@phanders6236 because Art is useless... that's what Oscar wilde said!

Actually there is a lot of beauty and time and effort put into something and people are willing to pay a lot of money for it.

@bigtosz

4 жыл бұрын

@OMEGALUL Clap Then why don't they? Why don't you? Easy money, right?

What they didnt tell you in this video is that many of the purchases are done to hide large sums of money. A buyer will get the artwork and stash it in a warehouse somewhere to be sold at a later date. Its great for these big auction houses who make a fortune off iconic artists but bad for the public who loose the chance to experience the work in person.

Came here because the art in the thumbnail looks like every painting hanging in any taco bell ever. Ok bye

@SilhSe

3 жыл бұрын

Ha! Great

@ollonnn

3 жыл бұрын

You look like every girl hanging at Starbucks ever.

@tadpole53

3 жыл бұрын

@@ollonnn LMAAOOOOOOOOOOOOOOOO

My kindergarten painting could prolly make a couple 100 stacks

@jon-unicorn-doxxer

4 жыл бұрын

If you have a name and famous in art world why not...

@niagaradrones

4 жыл бұрын

Yes, that’s the point, art is subjective.

@Abel1120

4 жыл бұрын

try it... its actually super hard...

@copypaste3526

4 жыл бұрын

Et Cetera sry you are nor dead nor famous... pock up the sythe peasant and let the aristocrats do their thing

@Patrick10271995

4 жыл бұрын

If a famous artist sell you kindergartens artworks as his/her and create a story for each art, the artist can make millions. Hahaha

Great story here. Intriguing to hear about how art auctions have changed recently.

love this documentary format... made me subscribe

Wolfgang Beltracchi had fun with these characters 🤣🤣🤣

High years of art sales are indicators of a coming recession

@johnnyb3783

4 жыл бұрын

Alexander Nunne that makes sense cause they know what we don’t

@hiyashifalcion118

4 жыл бұрын

Lol yeah actually. Me and my husband bought a painting that was priced at 150. But it was on sale 3 times over, ended up paying a little less than 60 bucks. Somethings not right with the economy. I mean, more than 200 for a painting? Pshhh, but still, art isn't valueless either.

@Q_QQ_Q

4 жыл бұрын

@Hiyashi Falcion how did you get for less than 60 ?

@hiyashifalcion118

4 жыл бұрын

@@Q_QQ_Q it was on sale at the store for like 60 percent I want to say. The thing was, it wasn't just an abstract paintsplotch or something stupid like that. It made sense to spend 100 bucks on it (it's a stylized map of the earth with nautical stuff and lots of bright colors)

@Q_QQ_Q

4 жыл бұрын

@Hiyashi Falcion but is it worth it ?

Boomers influence has made pop art ridiculously over valued.

@synecdoche8783

4 жыл бұрын

@buntovnik bez razloga value is set by the seller, you know how cheap it is to create computers, clothes, cell phones, and designer bags? like 1% of how much they sell them for

@magick2006

4 жыл бұрын

Your food also overvalue

@synecdoche8783

4 жыл бұрын

@buntovnik bez razloga well without money as a motivational factor, why bother developing newer and stronger models of technology? why would anyone want to get into that industry and try to get a backbreaking degree in computer engineering only to sell their products for pennies and make as much as a cashier nothing to do with greed, if healthcare and medicine was free, most people wouldn't want to be doctors and we'd have less

@CinnamonByte

4 жыл бұрын

@@synecdoche8783 you are correct about bags and clothes. But electronics is a bit different. Companies spend hundreds of billions of dollars each year in research and development. Which, may not even be used in the actual device. So, companies like apple are overpriced but not nearly as much as branded clothes

@Ethiopianexposer

4 жыл бұрын

I dont see the point of art

"For charity " Biggest lie you've ever heard about these auction things,,,

Rock/Paper/Scissors is quite a useful skill.

Replace "art market" with money "laundering market"

That Sotheby’s chick looks like she is really difficult to deal with.

@RobertLeBlancPhoto

4 жыл бұрын

And that upspeak is so annoying.

@natella2426

3 жыл бұрын

cause she's a wealthy successful woman and people hate that

I'm a simple man, I hear money and laaundry, I click

That thumbnail looks like something I made in my 1st grade art class

@bigtosz

4 жыл бұрын

Cool! You're rich now.

@michaelrantanen4312

3 жыл бұрын

then actually sit down and try to draw like ur in 1st grade art class again... as an adult but also use a color wheel to get every colour to pop in unison

@DripGxd_Cam

3 жыл бұрын

@J H nah it was lost to time

That chinese bronze piece was the one the lady brought in to antiques roadshow. It ended up selling for 2million on an estimate of $100-150k.

Sotheby’s and Christie’s sound like they could be café chain names

I love how all these auction houses and the people within them seem to think that they benefit and evolve the art world... what a mindset to have! Shouldn't art be public and not looked away in some big mansion?

@SantaBarbaraBiking

2 жыл бұрын

It is unfortunate that so many art pieces are hidden away in corporate buildings and personal collections.

@ziraprod6090

9 ай бұрын

It is - go to a museum.

CNBCs channel has been on point lately! Interesting, unique stories.

Salamat po. Nick Rodis speed artist from Tagaytay City Philippines

I hate that this is called 'art' by media. This is 'money laundering'

@sabudehchukwumdimma7619

4 жыл бұрын

lol

@governmentcontractor765

4 жыл бұрын

Very original comment

You see art, I see money laundering

@MrAlpinab7

3 жыл бұрын

art, what a joke ! the only art was by Raphael, and Michelangelo and the other 2 ninja turtels :))))))

@phanders6236

3 жыл бұрын

you are not looking deep enough

Fun, interesting thanks for uploading!

Low cost, high returns business.

Looks like kindergarten drawings are a billion dollar business

It’s so many talented artist all over the world in every single market!!!!!

The beat in the background in the begining reminds me of "teach me how to Dougie"

Do these auction houses only sell items that are by well known artists? I have an EP MGil painting I want to sell, and one I want to sell by an artist I cannot identify but have info on the back saying he was a cousin to a famous theater actress in the 1800. Then I have some pottery, like newcomb ext. but how do they decide what they’re going to sell? Would Sothabees or Christie’s sell my stuff too?

Videos like these make me wanna steal paintings from a kindergarten and sell them for a million dollars.

wow 100 M for just one painting. this is exactly what is wrong with the system

@bigtosz

4 жыл бұрын

It's a really good painting. The system works.

@altaydraws

3 жыл бұрын

I like this art money

@parapermesterjeluurinvesti523

3 жыл бұрын

Well you forgot about "salvator mundi" i guess

A banana duct taped to the wall sold for $120,000,000. The banana was later eaten, there's no moral to this tale...

@simeonzanechambers2430

4 жыл бұрын

$120,000 not $120,000,000

Using art for money laundering and avoiding tax. What a disgusting scam.

@sergioinfante417

4 жыл бұрын

Stick to the status quo then 😆

I knew I saw the bronze statue at 5:43 somewhere! It was on Antique Roadshow : Best Moment: Early 15th-Century Chinese Bodhisattva Gilt Bronze (2018). Paid 100$ in a garage sale, valued at 100,000-125,000$. Made 1,300,000$ at Sotheby's.

Kind of random but can anyone help me identify the music track playing from 12:44 till the end of the video?

Soon enough, once artists wake up and realize you can just market yourself on social media.. these companies will soon and hopefully crumble. Just imagine those $67.4 billion dollars being distributed among all of the artists around the world.. the poorest artists will still make a living! Not all 7.8 billion of us humans on Earth are artists! But like I said.. artists gotta stop being so romantically tied and wake the fudge up. It's much easier to market yourself as a brand rather than wait and "sell-out." It's hard to even get to the point of selling-out!

Art is expensive because rich people literally have nothing else to spend it on.

@BrandonClark-StocksPassports

3 жыл бұрын

BINGO!!!

14:03 that smile when talk about alot of money...

Art is such an interesting investment. On the surface it looks like a super safe and smart investment. But, as they mention, tastes are always changing... how to take that into account? Seems tricky... but fun.

I have found the Art World an ever-increasingly unscrupulous place. It's most evident in the high-end market which in turn sets trends and $$$ over the whole market and sets an over-inflated value of what we view.

@GalleryCoronado

11 ай бұрын

Years ago, one of my artists (Captn Budd, now mostly blind) had art in Center Art Galleries, Honolulu. That gallery was accused of having fraudulent Red Skelton art. They closed and gave him back his art framed.

@ericswain4177

6 ай бұрын

@@GalleryCoronado There are always exceptions, I speak mainly of the Top end art market.

@ericswain4177

3 ай бұрын

Wow very lucky.@@GalleryCoronado

Ty

The VC of Sotheby's is too cute in an Art Industry ;)

Buying a famous work of art in a highly publicized auction to launder money is a thing of the past. There are much more efficient and anonymous methods out there today. Decentralized exchanges can transfer hundreds of millions of dollars in digital currencies with no trace and in total privacy.

"Selling between two auction house is not an easy decision" That's a problem I wish I had.

As an artist watching this i see these two auction houses as the destruction of art for the average person. Original art does really bring a source of power into your home like nothing else. You can have a sparse home with one powerful work of art that enlightens the viewer everyday.

@pianoonparade

3 жыл бұрын

Just because I can't afford an original Picasso, doesn't mean I can't support local artists by purchasing or commission a piece directly from them. Personally, I think those top five auction houses serve a different clientele but they've never taken away the ability and privilege to own art. Of course that's not to say that the people who can afford Christie's and Sotheby's won't also purchase art from an up and coming artist (like yourself).

Money launderers love these Guys....side smirk smiles throughout this video.

Maybe I can try to sell my Art here.😂❤️

Walt Disney couldn't draw a mouse.

Art should be treated as a priceless historical artifact, it should be in museums for everyone to see. Like what.. You buy it for investment and probably look at it twice a year? It's waste that everything is just hidden in your basement and everyone can't even see it.

@piusx8317

4 жыл бұрын

@MysteriousOklahoma Examples?

@jyashin

4 жыл бұрын

The fact that you can hire reproducers to make the exact same thing so easily tells you exactly how much the art is actually worth

@julialuber3767

4 жыл бұрын

The story of art investing is also a dimension of history, though.

The Extremely Rich: This speaks to me. I've never seen anything so magnificent! Art Dealer: Yes, and for only $698 million this 4x9 Post-It note can have a home in your heart! 😘 T.E.R. : 🤔🤔🤔 I'll give you $700 million and not a penny less! A. D. : 🤑 DEAL!!!!!! 😍 Me: Cool, so universal health insurance is feasible and saves money overall, we just need to raise the taxes of the bazillionaires. T. E. R. : That's unaffordable. Me: 😡😡😡 You just paid hundreds of millions for Windows '98 clip-art! T. E. R. : So?

@beamboy14526

4 жыл бұрын

There are millions of people in Africa and other developing countries dying from lack of access to fresh water or food. Should the government raise taxes on you to feed them? Billionaires and millionaires who legitimately earned their wealth deserve to spend it however they'd like. Instead of spending $1k on an iphone or $2K on a laptop, you could've used that money to help hundreds or thousands of dying kids in Africa. Why didn't you do it?

@gillgousse2247

4 жыл бұрын

@@beamboy14526 "legitimately earned their wealth" :)

USA:I am at the top of every segment. China:I am gonna end this Man's career. 😎😎😈😈😈😈

Old school crypto currency

Amazing art 😊

Whoa Picasso! ❤️

I think, that there should be =as much support, as poss_ABLE, for: "Artists, from: across:_ Africa, Ireland, ASIA, "Indigenous_Australasia", "The [very]_Native_AmeriCAN_ ART-ists" -etc. -M.K.S.

Could i get Sotheby's blueprints real quick, please, theeeeeeeenks

Art is in the wallet of the beholder.

These art companies should be tagging themselves as tech companies called WeArt

Imagine buying a painting for $5000000 to hang it in your living room instead of rebuilding 10 schools or helping out 100 families financially. I know the money laundering thing, but some people there just do it for fun. They called that fun . Astonishing. Human nature is fascinating.

@idyllsend6481

4 жыл бұрын

Perhaps this world's poor will be enjoying a feast while these "humans" are caged in the after life, you never know, you can't escape cosmic punishment.

@Gonzalo_Sala

4 жыл бұрын

Socialism? No, tanks

@Caucasiancookingadventures

4 жыл бұрын

They spend alot of money to make even more money.

@sharongillesp

3 жыл бұрын

You're right...we see the ills of "human nature" all around us...looking for the "human beings" that truly appreciate what it means to live life.

@suelkoka

3 жыл бұрын

@@sharongillesp That's a trait we subconsciously or consciously sometimes tend to search in our partners. But now that you mentioned it , in art too. We love songs, sculptures and paintings that mean,feel and show something , and are not just plain beautiful or executed.

Brilliant!

1:54 talks about the process of consignment

I will get my own Art Gallery here in Jamaica soon

Your closed captions, which I note are not KZread's automatically-generated ones... are *_terrible._* 😞

@boncitagoyang6963

4 жыл бұрын

OMG YES

"When economies are failing, art auctions are booming" --- Pedro Parker, phd.

@zareenwilhelm5811

3 жыл бұрын

Link to thesis?

@xy_77

3 жыл бұрын

They suffered a 20% drop during the pandemic.

@kamu747

3 жыл бұрын

@@xy_77 Well, Economies thrived and bloomed. 2020 was generally, a profitable year. Don't consider the average man, think about the upper strata. Many industries did better than usual. There was a lot of money in circulation.

@xy_77

3 жыл бұрын

@@kamu747 The auction houses lost more than 20% in profits.

How would you go about submitting some of your work to some of these auction? I'm an abstract 3D cosmic artist here, in Florida

Money laundry at its basic.

For centuries, art has fascinated people. The sensitivity of the audience resulted from being stimulated by cultural events, social changes, wars, etc. This is how new directions in art emerged. Today's world needs something else, and that's why Compmaturism. The works of the Compmaturists relate to today's human needs; they are emotional, devoid of routine and calculation. They are filled with art juice.

Very nice.

It’s a vase for 300K, how I get the eye with the skull because it looks amazing.

any1 who recieved this recommendation during the pandemic while on lockdown? 🖐

3:18 what's the artist?

Protip: Art actions are one of the many forms of money laundering

@reclaimedandrested

4 жыл бұрын

Chris Gouger glad to know

9:08 lol, funny!

Wow!!! That's a lots art-selling.

why isn't there an auction on artists?

How big are counterfeit market for this ?

Nice to see some transparency. I have made some art and sold it, not for crazy amounts, but the time it takes and the reputation of the artist will only increase arts value. I’m a nobody and I sold a piece I made for 1,300$

@bsaforlife

3 жыл бұрын

What kind of art did you do?

The history part is great. But immediately after hearing the lady said the art world is transparent I stopped the video and skip the rest.

They belong in a museum!

@hogatiwash7750

4 жыл бұрын

well not all of them...

@codorin

4 жыл бұрын

Maybe but some people want to build their own private museum.

@JefferyDavisJr.

3 жыл бұрын

And so do you

Leonardo da vinci must be proud of a great artist we have in Adam neuman founder of WeArt

Original artists are probably disappointed right now

Marc Porter being does not even want to mention "Sotheby's ", however, he was with Sotheby's for 3 months before going back to Christie's! Interesting..... This reminds all of us, Cola WARS, Pepsi vs Coke!