Nicole Lapin

This has happened before.

In 2020, the U.S.

Senate released a report showing how Russian oligarchs used the art market to evade U.S.

sanctions.

One oligarch bought and sold art through shell companies with zero transparency, effectively moving money around the globe under the radar.

Auction houses that facilitate these deals, like Christie's and Sotheby's, don't violate any laws.

Why?

Because in many countries, there's no requirement to verify the identity of art buyers the way banks must.

It's a regulatory gray zone and rich people take full advantage of it.

Now, I know what you're thinking.

I'm not buying a million dollar painting, Nicole.

What does this have to do with me?

Well, here's the thing.

Understanding how the rich move money teaches us how the system actually works.

Not the version that were sold, but the version used behind closed doors.

And whether or not you ever buy fine art, there are still some lessons here.

Like sometimes valuation is narrative driven.

Just like art, crypto, even stock in your portfolio can appreciate based on vibes, on what others are willing to pay for it, not the tangible value of the asset itself.

Also, tax planning is everything.

It is not sexy, but it is true.