Name: Adam Ruins Everything - How the Fine Art Market is a Scam | truTV
Uploaded: 2017-09-13T04:55:17.000Z
Duration: 5 min 13 s
Description: Thousands of YouTube videos with English-Chinese subtitles! Now you can learn to understand native speakers, expand your vocabulary, and improve your pronunciation...

Adverbs of degree

These rich snobs don't know more about art than you.

We're told that art like this is so expensive

But the fact is, you're looking at a massive price-fixing scheme

that benefits wealthy collectors and excludes artists like you.

The prices here are high because the art is objectively good.

a small group of galleries and collectors decided it was good,

the price goes up, whether or not anyone else agrees.

Big galleries actually keep their prices a secret

so they can change them depending on who the buyer is.

And they do their best   to keep out buyers

Daniel Radcliffe once tried to  buy a fancy painting,

I just want one painting that doesn't talk to me.

Because if the gallery only   sells to art world elites,

which means all of their other  paintings will be worth more.

Well, luckily, we outsiders   could just go to art auctions.

They're democratic open markets where anyone can buy.

Auctions play all sorts of dirty tricks to drive their prices up,

auctioneers even use a practice called chandelier bidding.

They just point to a random spot above everyone's heads

And I see 5 million from  the bidder in the back,

she's my girlfriend  who you don't know  'cause she lives in Canada.

Whoop, she's back across the    border, so don't turn around.

it increases the value of my entire collection.

Up next, we have a fine  comdiment-based work

This shady market can also be manipulated by crooks who use it

to defraud the government    and launder dirty money.

I would like to buy a painting   from your fine gallery

until you remember that  that donation is also  a tax write-off.

And here's where it can  get really shady.

to determine the value of    the art they donate,

so they can use it as    one big tax dodge.

What if I donate this painting worth 40 million?

At the end of the day, this is what the fine art market is.

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Adam Ruins Everything - How the Fine Art Market is a Scam | truTV

pretend

determine

random

manipulate