The $12 Million Stuffed Shark: The Curious Economics of Contemporary Art
Why would a smart New York investment banker pay $12 million for the decaying, stuffed carcass of a shark? By what alchemy does Jackson Pollock’s drip painting No. 5, 1948 sell for $140 million?
Intriguing and entertaining, The $12 Million Stuffed Shark is a Freakonomics approach to the economics and psychology of the contemporary art world. Why were record prices achieved at auction for works by 131 contemporary artists in 2006 alone, with astonishing new heights reached in 2007? Don Thompson explores the money, lust, and self-aggrandizement of the art world in an attempt to determine what makes a particular work valuable while others are ignored.
This book is the first to look at the economics and the marketing strategies that enable the modern art market to generate such astronomical prices. Drawing on interviews with both past and present executives of auction houses and art dealerships, artists, and the buyers who move the market, Thompson launches the reader on a journey of discovery through the peculiar world of modern art. Surprising, passionate, gossipy, revelatory, The $12 Million Stuffed Shark reveals a great deal that even experienced auction purchasers do not know.
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Review: The $12 Million Stuffed Shark: The Curious Economics of Contemporary ArtUser Review - Ilya Kavalerov - Goodreads
The aim of this book is to answer two related questions: What makes the work of an artist valuable, and why is anyone willing to pay top dollar for usually un-extraordinary and occasionally unlikable ... Read full review
Review: The $12 Million Stuffed Shark: The Curious Economics of Contemporary ArtUser Review - Alexander Stanuga - Goodreads
An insightful read on the economics particularly of the top end of the the Art World. Written over the past few years, the author highlights the role of Auction Houses, (particularly Christies and ... Read full review
The 12 Million Stuffed Shark
Branding and Insecurity
Damien Hirst and the Shark
Choosing an Auction Hammer 103
Art and Money 177
Contemporary Art as an Investment
Art Websites I