There is an interesting New York Post report that roughly 200 of Hunter Biden’s art pieces were destroyed in the Los Angeles wildfires. The value of the art stored near the home of Hunter’s patron and lawyer, Kevin Morris, is being claimed in the “millions of dollars.” The question is whether, with reports of a collapse in the value of Hunter’s art with the departure of his father from office, the fire might prove the ultimate windfall for Hunter and his “clients.”
Georges Bergès, Hunter Biden’s art gallerist, contradicted claims of the White House on the handling of the art. Hunter reportedly knew who purchased roughly 70% of the value of his art, including Democrat donors Morris and Elizabeth Hirsh Naftali.
While Biden allies hyped the sales to show that Hunter was a legitimate artist, Bergès admitted that Morris actually purchased most of the art. Morris has reportedly given Hunter millions to cover unpaid taxes and expenses. Hunter only sold paintings to ten people for $1.5 million, according to congressional testimony from 2024. Morris bought 11 works for $875,000 in total.
The drop in the value of art reflects not only the volatile art market but also the fluctuating influence-peddling market. The Bidens are finally cashing out of Washington.
In the meantime, Hunter is facing a bizarre claim from one of his debt holders that, in return for allegedly walking out on over a year of rent, Hunter sent him art made with his own feces to sell. Shaun Maguire claims that Hunter rented his $4.25 million home in California in 2019. When Hunter’s lawyers denied the story, he posted pictures on social media.
If insured, the fire could prove the next best thing to . . . well . . . talent.
This is not to suggest some Goodfellas fire-and-file insurance scam. However, the story raises an intriguing question of whether the art was insured and, if so, at what price. The collapse of the influence-peddling market was expected to collapse the value of Hunter’s art. However, this fire came just before Joe Biden left office and the drop in value was expected to occur.
If insured, the art could bring the full influence-peddled value and Biden art holders could be saved by an act of nature. Once again, it is not clear from the coverage if this is art that has been sold to or stored by third parties or whether this is only a storage area for unsold art.
Once again, it is unclear if there was insurance and, if so, what the insured value might be. However, the art was purchased at what many viewed as ridiculously inflated prices. (It would be interesting to see what value an insurance company would assign to these pieces). Even a partial insured value would exceed the value of the work over the long term. Some of Hunter’s work was previously pulling as much as a Picasso. It also allowed for money to flow to Hunter from allies under the alleged pretext of art sales.
There is also the possibility of writing off the losses on taxes. There could be the ultimate irony in such a claim if it could be made. Generally, to claim a casualty loss as deductible, there must be a federally declared disaster. On January 8, Joe Biden declared a federal disaster. If this art is covered (and I am no expert), Hunter and his allies could seek deductions for art tied to an alleged influence-peddling scandal by citing a declaration of the very person who was the subject of that influence peddling.
Hunter and his allies could find the ultimate truth in the insurance slogan “Your Safety Net in a World of Change.” Faced with a warehouse of mediocre, over-prized art with diminishing value, this could prove the best return on investment since the Bamboo Lounge went up in flames.
Jonathan Turley is the Shapiro Professor of Public Interest Law at George Washington University. He is the author of “The Indispensable Right: Free Speech in an Age of Rage.”
First, you have to file, and pay taxes to be able to claim the loss. This loser narrowly escaped jail for failure to pay. Secondly, finger paint and poop, hardly qualifies the crackhead as a legitimate artist. To make the World a better place, burn baby burn!
* OT. The inauguration and terrorism is concerning. Just as Ellen and other celebrities left LA before fires were set , Pelosi and M. Obama will evade the inauguration.
VP Vance might not attend either.
Cashing out of Washington? When will the Obamas cash out? Ever?
Over and out
Inauguration has been moved indoors because of impeding frigid weather (or that is the reason given). That *should* make any attempt at assassination or mass violence more difficult to pull off.
* I figure violence or terrorism is in the wind since Pelosi and Obama got a tip off.
As a sidelight, I am happy that TPTB chose to make Trump’s Inauguration Day a National Holiday [grinning, ducking & running]
Joe says, look man if you help my kid out I won’t forget it. You must understand that if you do us this favor we will be doing you a favor someday in return. Otherwise there could be a fire in the vicinity of your funeral home. Does youse get my drift? Good, we have an understanding then. Right?
Value is generally established at time of loss. Whether insured for “actual cash value” or “replacement value,” -thanks to Hunter’s reputation and demise-, both may end up being the same in value…
Any insurer who would pay the claimed value for this garbage with out litigating against that as far as possible has earned its bankruptcy.
It is time to put Joe to Bed.
If Biden does not pardon himself on the way out the door, Trump should issue one of these blanket pardon’s to Joe and his family.
Absolutely AG Bondi should thoroughly investigate the corruption of the Biden’s – probably a Special Counsel should be appointed.
But the Biden’s should be off the hook. The purpose of the investigation is to bring everything to light and to prosecute those who enabled and covered up their corruption.
Peter Theil has recomonded a Truth and Reconciliation commission – without spelling the details. Trump has at times suggested the same thing.
My suggestion is to wrap up everything – the whole anti-trump lawfare the violations of the first amendment the politicized prosecutions the abuses of the FBI into one giant package – they are all fundamentally related anyway.
Put togeteher a pannel of judges operating with DOJ or a Special Counsel in some kind of Grand Jury like process,
With near limitless power to grant imunity in return for truthful testimoney and an 18 month deadline for the process.
After which a report is issued and anyone who has not come forward with the truth of their official misconduct is subject to further investigation and prosecution.
We must get to the bottom of all that happened, and their must be consequences. But public exposes in most cases is sufficient consequence.
I think that the public shaming that would result from bringing to light misconduct by, and negligence of, Biden officials, fellow Democrats, and the Biden crime family would “trump” that which would be gained from any attempt at criminal prosecution, and it would be cheaper. Remember, the President has access to all the secrets.
Turley just said what the rest of us were thinking. Hunter’s soon to be worth less, if not worthless, art just went up in smoke and was very likely insured. Note that insurers too are often politically motivated. It remains to be seen what investigative reporting of free media may eventually reveal.
I personally find Hunters art uninteresting.
But I could care less about the claims that it is somehow a fraud or money laundering, or whatever is being claimed.
If true – SO WHAT ?
A core principle to economics is “Value is subjective”
The James enmoron case is a crock and never should have gone to court.
Hunters art is worth whatever a willing buyer will pay for it.
If an insurance company insured it for a high value – then they owe the owner that value.
Contra some here – while Insurance companies often do estimate the value of what they insure, and banks do often appraise the value of what they mortgage – those are not a requirement.
Llyods famously will insure almost anything. It is NOT the purported real value of the thing that matters, it is the amount paid in premiums and the probability of loss that matter with regard to whether an insurance company writes a policy.
When buying a homeowners policy – my core problem is getting the insurance company to value my home as I wish.
They ALWAYS value it far too high – that drives up the premium. If I could sell for the price that the insurance company assesses I would do it in a second.
My point again – value is subjective.
And insurance companies will insure anything for any value – so long as the probability of loss is low enough and the insurance premiums are high enough.
Real value has little to do with it.
The Biden’s are petty theives. Joe Biden is not the most corrupt president – though he is the worst.
Is Hunter’s art just another scam – I think so. but all the participants went in willingly and no public power was corruptly used.
Winners and losers with respect to the artwork are issues for free markets not government.
” If I could sell for the price that the insurance company assesses I would do it in a second. ”
Seems like your insurers are creating an incentive to be careless with inflammable substances…
Are we smelling smoke or are we smelling (more) fish?
“Something is rotten in the state of Denmark” and the states of California and Delaware
The Biden name will live on in infamy. Hunter Biden is the least of their problems. The New York Times has published a scorcher in how Schumer threw Biden under the bus.
‘I’m Urging You Not to Run’: How Schumer Pushed Biden to Drop Out
New York Times
For all of their virtue signaling and pathetic attempts at derailing Trump’s nominations in the US Senate hearings, the NYT article confirms – stick a fork in the Democrats, they are done. The Democrats have lost their religion
O.M.G. Hunter’s going to auction off his Left Ear 👂🏻 – I Knew It!
This analysis proves that Hunter started the LA fires.
LOL! 😉 Lost control of his crack pipe, I presume. How convenient! After his feces painting, anything is believable.
The wealthy that bought this “art” will now try to take tax deductions on their loss and all as Joe Biden says the rich need to pay their fair share. This as he claims that we need censorship in order to protect our democracy. This as his says we need to worry about the “oligarchy” after he gives George Soros and Michael Bloomberg our nations highest award.
Joe Biden is two things at once, a hypocrite and a moron and there are few things more aggravating that having some moron preach at you hypocritically.
You have no idea what the owners will do.
You’re a hyprocrite and a moron, in one person. What an achievement!
Who is calling whom a hyprocrite?
What a super coherent argument! 😬
Gives a new meaning to the term, “I lost all my sh!t in a fire.” 🙂
That stunk!
As the late great Rick James said, “Cocaine is a powerful drug!”
I don’t think the Federal Pardon will help here. Hopefully, no reputable insurer was involved.
It’s all “Up In Smoke” sort of like Cheech and Chong’s movie but maybe funnier. I await the updates over the next few years.
we all know art is a scam
Funny that his ‘art’ was just shoved into a warehouse or storage unit.
Hope is on the way. This time Hunter will be arguing with Insurance companies and their team of “all-claims-denied” teams. They’re tough, I can tell you personally. More importantly, Hunter does not have “big-daddy” to rely on, or big DOJ, or big FBI, or big lawyers to buy. He’s like “naked”. Poor boy will need to paint more. But who will buy this time?
No Insurance company would ever insure Hunter/Morris painting at the price Morris paid. They would be subject to real expert valuations of the paintings. Then the open question, many have asked, why would Morris pay such amounts? pay off Hunter taxes etc. Appears to be a ? investment in these paintings? Lots of questions, perhaps the new DOJ/Congress will be looking into in one of their many investigations of the last 4 years?
Another example of an anon bigmouth spouting off and going off on a subject they have no experience with, or about.
“Anon bigmouth” seems to fit more than one of you.
The insured value of Hunter’s mediocre art is a private matter between Hunter and any insurance company stupid enough to get sucked in.
It is a private business contract. Like Trump’s property valuations on his loan applications.
No insurance comaony is “stupid enough to get sucked in”. It’s a calculation. Then, you have no idea if the stuff was insured.