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There's a big difference between an illiquid market where wealthy collectors are so keen to hang onto things they only change hands at crazy possibly-not-to-be-repeated prices and a fake market where the illusion of deep-pocketed collectors is created by the auctioneer and owner colluding to pretend an item changed hands at a massive amount of money.


The amount of wash trading in the fine art world is certainly not zero.


True, but I don't thing wash trading is integral to convincing people that fine art is something people want...


There's perhaps a difference between an original DaVinci and whatever the latest paint splatter on canvas modern art is, though.


I'm pretty sure it's integral to convincing people that ~99% of the >$1,000,000 fine art is something people want enough to pay the 'going' price for.


There is also a big difference between Russia having to shut down a gas pipe for maintenance and politically motivated energy blackmail.

...Or is there?




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