This one is going to be for you art anon, it also ties into the last topic.>collectors of fine arts
How art can be used for being considered well cultured, make money, save money, and pay people in capital gains all at the same time.
People with lots of money obviously have to spend tons of money on art, that's how you become cultured.
Rich people love postmodern art. It's all of the rage.
Maybe you find a promising young artist, and one set or style of their art really interests you.
You buy all of their display, and pick up some of their older work, maybe you don't even spend more than a few hundred dollars for everything.
A good friend of yours is over and they ask you about which artist you have work from.
They also decide they like this artist and pick up some of it.
They have a business partner, and they are gifted artwork from your friend.
The gifted art goes up for auction and you buy it for a large sum, for some reason the anonymous bidding on it is very competitive.
Amazing luck for that friend of a friend, they also happened to hold onto it for a year so the sale is now capital gains.
A superior morality suddenly compels you to donate this artist's work from your collection to a charitable cause.
A set of respected professionals evaluate the artwork from your collection, discovering that art from this artist recently sold for a very large sum of money.
Valuation of the art exceeds your expectations, you gift it to charity anyways.
You make the charity sign a legally binding document stating their intent is to use the artwork to further the cause of the charity.
Lucky you, because you donated the art instead of selling it, the appreciation is never counted as capital gains for you, and instead the full amount can be put towards lowering your effective tax rate.
That's pretty great for something you only spent a few hundred dollars on, and the business partner of your friend can even deposit that money right into a bank or investment account.