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A comment on The Sotheby's trial revealed the art market's unsavoury practices. Parent comment

Re:The Sotheby's trial revealed the art market's unsavoury p... by itsoktocry on Tuesday February 06, 2024 @09:13AM (#39274337)
People have this idea that there's something magical about "write-offs".

In this case the rich person is spending $50 million dollars to save the tax on $75 million? Makes zero sense.

[ Parent | on HN ]
Re:The Sotheby's trial revealed the art market's unsavoury p... by rufus_foreman on Tuesday February 06, 2024 @09:22AM (#39274434)
Cosmo Kramer: It's a write-off for them.

Jerry: How is it a write-off?

Cosmo Kramer: They just write it off.

Jerry: Write it off what?

Cosmo Kramer: Jerry, all these big companies, they write off everything.

Jerry: You don't even know what a write-off is.

Cosmo Kramer: Do you?

Jerry: No, I don't.

Cosmo Kramer: But they do. And they're the ones writing it off.

[ Parent | on HN ]