Hirst | Koonz is more of a pyramid scheme of confidence tricksters, limited supply, envy, FOMO and other factors - the ego of those with money to burn and wanting to make a statement has play here.

Money laundering itself in the art market is duller, by design, it trades on lesser regulation and inspection of the funds bought to sales and auctions and often uses decoupling mechanisms, illegal funds -> art -> inflated values -> legitimate money via loans backed by art as collateral, etc.

Searching a bit I found two articles that seem okay on quick skim reading:

* https://alessa.com/blog/art-money-laundering-explained/

* https://www.dentons.com/en/insights/articles/2024/march/11/t...