Why is so much art stuck in freeports in places like Delaware and the Netherland : Planet Money Investors are pouring money into art, but a lot of it is disappearing into storage. We find out why. | Subscribe to our weekly newsletter here.
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Planet Monet (Classic)

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Planet Monet (Classic)

Planet Monet (Classic)

Planet Monet (Classic)

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ARCIS, a U.S. Foreign Trade Zone for the storage of cultural property and fine art. Richard Mitchell /Richard Mitchell hide caption

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Richard Mitchell /Richard Mitchell

ARCIS, a U.S. Foreign Trade Zone for the storage of cultural property and fine art.

Richard Mitchell /Richard Mitchell

Note: This episode originally ran in 2018.

The art market is going nuts. People are spending record amounts of money on paintings like Leonardo da Vinci's Salvator Mundi. But not everyone is rushing home to hang their new artwork up on their walls. A lot of buyers are storing their art in vast warehouses near airports. They're called freeports.

Freeports exist between countries, a sort of no man's land, which means you can store your artwork there as long as you want, without having to pay any taxes on it.

Where are these freeports? How do they work, and are they even legal? Today on the show, we try to find out.

Music: "Game Face" and "Mystery Cats."

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