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Two gemstones sold for 35 million each: ?meaning
Posted on 6/10/23 at 11:21 am
Posted on 6/10/23 at 11:21 am
A ruby and a diamond and two rich buyers 
The Eternal Pink
and
the 55 carat Mozambique ruby
Someone is willing to tie up a lot of dollars.
Are they betting that the next sale will mirror inflation?
Have they converted their unstable native currency to dollars and this is an effort to keep something of value for their future offspring?
Or ????
The Eternal Pink
and
the 55 carat Mozambique ruby
Someone is willing to tie up a lot of dollars.
Are they betting that the next sale will mirror inflation?
Have they converted their unstable native currency to dollars and this is an effort to keep something of value for their future offspring?
Or ????
8
Posted on 6/10/23 at 11:22 am to real turf fan
quote:
Someone is willing to tie up a lot of dollars.
Or donate them to a museum, get someone to claim a value of 60 million dollars, and take the additional 25 million as a nice little tax umbrella.
They do this with Fine Art all the time.
Posted on 6/10/23 at 11:33 am to real turf fan
These are just “The Pet Rock” for the wealthy.
Posted on 6/10/23 at 11:39 am to real turf fan
quote:
Have they converted their unstable native currency
How do you know they´re from the USA?
Posted on 6/10/23 at 11:46 am to real turf fan
I wish they would put something next to the stones for scale.
Posted on 6/10/23 at 11:46 am to real turf fan
quote:
meaning
Women artificially inflate prices for random shiny things.
Posted on 6/10/23 at 12:16 pm to real turf fan
quote:
Two gemstones
Posted on 6/10/23 at 12:18 pm to real turf fan
Meh. If some rich person wants to waste their money on rocks it makes no difference to me. Now if I was rich and wanted to waste money on a rock, this is the rock I'd want.
Posted on 6/10/23 at 1:13 pm to Rouge
quote:
Or donate them to a museum, get someone to claim a value of 60 million dollars, and take the additional 25 million as a nice little tax umbrella.
Hear me out. Can you take a tax credit for more than the basis? If you bought it for $35 and donated something worth $60, don’t you have to claim the $25 as additional income?
Posted on 6/10/23 at 1:20 pm to BigPerm30
I don’t know the exacts but this is a very common practice among the ultra wealthy with art work. That’s the real reason you see these ugly pieces of art sell for millions and millions.
Donate it to “charity” or a museum or whatever and then you end up saving way more money in taxes over the years
Donate it to “charity” or a museum or whatever and then you end up saving way more money in taxes over the years
Posted on 6/10/23 at 1:26 pm to PeteRose
quote:
Women artificially inflate prices for random shiny things.
Yeah. dudes never do anything like that...
:quality(80)/granite-web-prod/a5/05/a505716ec5d4423d8ffa6e386d9197b0.jpg)
Posted on 6/10/23 at 2:52 pm to real turf fan
quote:
The Eternal Pink
Men have been seeking this since the dawn of time. Unfortunately, they get tired of her after a few years.
Posted on 6/10/23 at 4:40 pm to Rouge
quote:
Or donate them to a museum, get someone to claim a value of 60 million dollars, and take the additional 25 million as a nice little tax umbrella.
That would not survive an audit.
Posted on 6/10/23 at 4:43 pm to Rouge
quote:
a nice little tax umbrella.
They do this with Fine Art all the time.
yep.... one of the greatest tax breaks really rich people have, tbh
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