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Maurizio Cattelan’s duct-taped banana artwork fetches US$5.2m at New York auction (www.theguardian.com)

submitted 1 day ago by [email protected] to c/[email protected]

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“I never thought I’d say ‘$5 million for a banana’,” auctioneer Oliver Barker quipped as the bidding approached its climax. The banana displayed at Sotheby’s was reportedly purchased for 35c earlier that day.

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[–] reddig33 3 points 1 day ago (1 children)

…are soon laundered.

[–] ynazuma 2 points 1 day ago (2 children)

Please explain, how is this used to launder money?

[–] reddig33 1 points 1 day ago

https://www.cnn.com/2020/07/29/business/art-money-laundering-sanctions-senate/index.html

https://www.artandobject.com/news/how-money-laundering-works-art-world

[–] [email protected] 1 points 1 day ago* (last edited 1 day ago)

In the US, the average laundromat has an annual turnover of $142,000. Not nearly $5 million.