General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsJust one more odd coincidence? Guess who was the seller on the $450M DaVinci painting
that was purchased at auction a year ago by a Saudi Prince who is a friend of Prince bin Salman? A sale that more than doubled the previous record for a piece of art sold at auction.
The same Russian who purchased a Trump Florida property for far more than Trump had paid for it a few years earlier . . . leading to questions about money-laundering.
https://www.nytimes.com/2017/12/06/world/middleeast/salvator-mundi-da-vinci-saudi-prince-bader.html
LONDON He is a little-known Saudi prince from a remote branch of the royal family, with no history as a major art collector, and no publicly known source of great wealth. But the prince, Bader bin Abdullah bin Mohammed bin Farhan al-Saud, is the mystery buyer of Leonardo da Vincis painting Salvator Mundi, which fetched a record $450.3 million at auction last month, documents show.
The revelation that Prince Bader is the purchaser, according to documents reviewed by The New York Times, links one of the most captivating mysteries of the art world with palace intrigues in Saudi Arabia that are shaking the region. Prince Bader splurged on this controversial and decidedly un-Islamic portrait of Christ at a time when most members of the Saudi elite, including some in the royal family, are cowering under a sweeping crackdown against corruption and self-enrichment.
As it happens, Prince Bader is a friend and associate of the leader of the purge: the countrys 32-year-old crown prince, Mohammed bin Salman.
SNIP
Salvator Mundi represented a major prestige purchase in the art world, if a controversial one. Some experts questioned whether the painting was a true Leonardo. Some were simply unimpressed. The paintings previous owner, Dmitry E. Rybolovlev, is a Russian billionaire who bought a $95 million Florida home from Donald J. Trump nearly a decade ago. Mr. Rybolovlev had paid $127.5 million for the painting in 2013 less than a third of its sale price last month and he is still locked in litigation with the dealer who sold it to him over that lofty price, among other transactions.
The Velveteen Ocelot
(115,879 posts)dameatball
(7,400 posts)superpatriotman
(6,253 posts)It's covered in blood.
Why would a Wahhabist want a painting of the Christian messiah?
Wounded Bear
(58,726 posts)not sure who said it first, but I know I've heard it.
mitch96
(13,926 posts)The Russian who owned the painting paid $127.5 million for the painting in 2013. Sells it to a Saudi for $450 million in 2018 netting a tidy $322.5 million in profit less fees.
Is this a way of paying off the Russian? Is this a way of laundering his money? Did the Saudi's owe money to the Russians?
Seems like a legitimate deal to me.. Buy low, sell high... I don't get it...
m
pnwmom
(109,000 posts)a Muslim wouldn't ordinarily want to buy an image of Christ, much less pay half a billion for it.
But it would make sense as an example of money-laundering.
mitch96
(13,926 posts)So just b/c it's over priced means something is wrong? What I'm seeing is the difference price, or over payment for the painting is the way of paying off somebody and make it look like a legitimate transaction... The Saudis paid too much for the painting and that overage is the payoff... Payoff for what ever reason, I get that. But how does this make it money laundering?
To my simple mind if you have $1 of dirty money you give it to somebody and they give you back $1 of clean, earned money. Less fees of course. So maybe the fee is 25¢ so I give you $1 of dirty and you give me back 75¢ clean..
Or is this deal backwards.... I give you 75¢ clean money for $1 dirty money but it looks like a transaction? The Saudi's paid the Russian 450 million of dirty money for a painting worth 125 million? So would the Saudi's be cleaning their money? I don't think so.. Prolly the Russians gave the Saudi's the 450 million dirty money to buy a 125 million painting. Therefore the 450 million dirty now comes out 322.5 million clean. The 125 million was the cost of the transaction, about 25%..
oy, I've got a brain cramp....
m
TeamPooka
(24,262 posts)Initech
(100,107 posts)AnnieBW
(10,465 posts)I thought that the sale of that painting was a little fishy at the time. I was wondering of some of the money from the sale was going to wind up in DOLT 45's legal defense fund.
TeamPooka
(24,262 posts)many/most experts in the art community believe it to be by one of his students.