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Author Topic: $450,000,000 for a single painting.  (Read 136 times)
Jet Cash
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August 28, 2018, 01:19:54 PM
Merited by paxmao (1)
 #1

This isn't new news, as the painting was sold last november, but I thought it was interesting as the painting was sold in 1956 for just £45. That price rise is nearly as good as Bitcoin. You can read the report here.
https://metro.co.uk/2017/11/16/leonardo-da-vinci-portrait-of-jesus-christ-salvator-mundi-sells-for-450000000-7083091/

On a more topical note. a 1962 Ferrari has just sold in California for a recorsd $48.4 million. It just shows what happens when people have got too much money, and they lose interest in stocks and bonds.
https://www.cnbc.com/2018/08/27/most-expensive-car-ever-sold-at-auction-fetches-48-million.html

Lets hope that some of this money finds it way into crypto, but not too soon, as I need to acquire a lot more before the next bull run.
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August 29, 2018, 07:42:53 PM
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Not sure if this is the case here but these expensive paintings are often used for money laundering.  The value of some of these paintings are crazy, the Mona Lisa has been valued at over $1 billion dollars.

48 million dollars for a car is also ridiculous.  When your a multi billionaire though you have so much extra money you might as well blow it, can't take it with you when you die. 

Call me a socialist or whatever but its very depressing how much some of these ultra rich have while a large amount of the world is living on 2 dollars per day.
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August 30, 2018, 12:23:30 AM
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Not sure if this is the case here but these expensive paintings are often used for money laundering.  The value of some of these paintings are crazy, the Mona Lisa has been valued at over $1 billion dollars.

48 million dollars for a car is also ridiculous.  When your a multi billionaire though you have so much extra money you might as well blow it, can't take it with you when you die.  


I don't think Monalisa or davinci paintings could be related to money laundry

I think contemporary art is more related to money laundry, as someone can just put a $30 chair upside down and it will be worth $3,000,000.

And Monalisa and davinci paintings are really worth a lot, because those paintings have a great influence over our culture. They are also scarse, as davinci can't paint anymore.

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August 30, 2018, 12:45:33 PM
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And Monalisa and davinci paintings are really worth a lot, because those paintings have a great influence over our culture. They are also scarse, as davinci can't paint anymore.

I still think $450,000,000 is way too much. With that money, you can open new businesses for the poor in the 3rd-world country, open educational facility, and so on.

Those billionaires are way too rich, damn.
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September 07, 2018, 02:30:04 PM
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they lose interest in stocks and bonds.
That isn't true.  The super rich have always had most of their money in hedge funds and the stock market, and from what I've read they are very conservative with their money, looking to not lose it rather than to make a killing.

And those hedge fund managers, CEOs, and assorted uber wealthy people love artwork and cars but they have enough money to buy them and yet still have most of their money in traditional investments.  They need fine things as physical representations of their wealth, and of course they need to fill their garages and decorate their mansions.

But *man*.  That is a lot of money for a single painting.  It makes me shake my head a little when I think about someone spending that much on artwork. 
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September 07, 2018, 02:57:06 PM
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At the moment the rich seem to be getting out of stocks, and the central banks are having to buy them to save the market from collapsing.
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September 07, 2018, 03:05:44 PM
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At the moment the rich seem to be getting out of stocks, and the central banks are having to buy them to save the market from collapsing.
Then how are we still in an out of control bull market?  You would think if a significant number of wealthy individuals were dumping their stocks we would have at least a good market correction, but we haven't seen that in quite a while.
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September 07, 2018, 05:30:51 PM
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Not sure if this is the case here but these expensive paintings are often used for money laundering.  The value of some of these paintings are crazy, the Mona Lisa has been valued at over $1 billion dollars.

I think that'd cost a lot to be used for money laundering...
Guessing that you'd have to lawless land to store your earnings initially before you import them, you'd need a lot of guards to store it and then a lot to help you transport it past highwaymen and pirates (assuming they're both still a thing in poorer islands).

Obviously there are other places like UK and US colony islands that charge less tax/no tax but probably also have less security than the mainlands...

At the moment the rich seem to be getting out of stocks, and the central banks are having to buy them to save the market from collapsing.
Then how are we still in an out of control bull market?  You would think if a significant number of wealthy individuals were dumping their stocks we would have at least a good market correction, but we haven't seen that in quite a while.
If you have enough stocks, you have to pull out slowly otherwise you get arrested for crashing the market (it's happened before). Market manipulation is taken seriously, even if it's accidental.
@Jet Cash, banks buy shares on the stock market for people to store money in stocks ISAs I don't think the banks are buying many shares for themselves (especially considering they're only buying shares in each other in order to keep each other afloat - lloyds bought halifax for example)...
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