Heard it a few times and it certainly seems like something that would happen but is there any proof or real world examples?

Can an Appraiser just make something worth $20m based purely on their say so?

EDIT: Thanks some great replies! and yeah i was asking more about the tax evasion part than the 'modern art is bad lol' angle.

    • BodyBySisyphus [he/him]
      ·
      3 years ago

      For simplicity's sake I was using the 20% and 10% as effective tax rates, not brackets. The principle still applies regardless, since you're reducing the income that's most heavily taxed first.