It’s hard to put a standard, market value on art. …Perhaps this is why the art market is so rife with fraud and money laundering.
Although I am not a buyer or collector, I am intimately familiar with how the art market works—paintings and images are essentially tokenized representations of wealth that come with a bevy of benefits.
Kickbacks, tax-free gains, and unreported, under-the-table income are among some of the most alluring dimensions of collecting, buying, and selling art.
In 2022, blue chip art was the best-performing asset class by far, making average gains in the thousands of percentage points—this is the power of the art market.
Hunter Biden is no stranger to these benefits and seemed to experience a personal creative renaissance when he started selling his art at roughly $500,000 a pop. …
To put this in perspective, a signed Picasso can auction for $400,000.
Obviously, this has raised some brows and GOP lawmakers have opened an investigation into these art sales, but Georges Bergès, Hunter Biden’s art dealer, is reportedly refusing to cooperate with investigators.
According to sources, Bergès has ‘stonewalled’ the entire investigation:
…What is interesting is that this is only the latest lawyer to defy Congress on a Hunter Biden inquiry. We previously discussed how Hunter Biden’s personal counsel Abbe Lowell refused a demand for evidence sought by the House. https://t.co/1e69Gw8KFp
— Jonathan Turley (@JonathanTurley) February 19, 2023
Hunter Biden's art dealer says he is one of the best artists of our time, and his paintings are worth hundreds of thousands of dollars. He is also an expert on running Ukrainian oil companies. pic.twitter.com/FK163KNsa3
— Tony Heller (@TonyClimate) February 13, 2023
According to Breitbart:
In January, House Oversight Committee chair James Comer (R-KY) requested Bergès testify before Congress and turn over relevant information about the art sales.
Comer told Breitbart News in 2022 he is 95 percent sure the buyers of Hunter’s art are Chinese buyers, potentially implicating President Biden.
On Thursday, Bergès, who has a history of doing business in China, told Comer through his newly hired attorney, that he will not provide information related to Hunter’s art sales because the sales are intended to be secret — the very issue in which Comer has raised concerns.
https://twitter.com/dkmr2008/status/1627127227610710018
Source link –https://t.co/XG0yjaErA0
— Gray Wolf (@graywolf442) February 15, 2023
Jonathan Turley writes:
Berges could refuse to testify without a subpoena, but he must appear if so served. He could then invoke his Fifth Amendment privilege against self-incrimination to refuse to testify.
What is interesting is that this is only the latest lawyer to defy Congress on a Hunter Biden inquiry. We previously discussed how Hunter Biden’s personal counsel Abbe Lowell refused a demand for evidence sought by the House.
Join the conversation!
Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!