The $12 Million Stuffed Shark: The Curious Economics of Contemporary Art
by Don Thompson
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List Price: ££14.99
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Manufacturer: Aurum Press Ltd
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Binding: Paperback
EAN: 9781845133023
ISBN: 1845133021
Label: Aurum Press Ltd
Number Of Pages: 304
Publication Date: 2008-01-01
Publisher: Aurum Press Ltd
Studio: Aurum Press Ltd
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Summary: A shark that is not alone swimming in those waters...
Comment: Written by an economist who had access to the most important actors (collectors, dealers, auctioneers, curators, art fair directors...)while doing his research, this book is an in-depth study of the way the market for contemporary art functions, the part played by auction houses, dealers, big collectors, museums, the sometimes incestuous relationships that exist between all of them, how art is priced, how auctions are organized (on and off the scene), how gallery shows are sold (or pre-sold), the importance of art-branding in creating an artist's reputation (the brand being the gallery, the auction house, the artist himself, a museum, or even a collector if he is important enough), and, most importantly, how these art brands are created. One insighful conclusion is that the art market, and the market for contemporary art in particular, is as much brand-driven as any other high-end luxury market. Through case studies (the dealers Larry Gagosian or Jay Joplin, the artists Damien Hirst, Andy Warhol, Tracey Emin, Jeff Koons, the auction houses Christie's and Sotheby's, the collector Charles Saatchi...)and broader considerations on the overall economics of art, the author manages to write a book which is at the same time well informed (with some spelling approximations, e.g. "Joe Bernardo" for the Portuguese collector Jose Berardo), to the point and easy to read. Of the more than twenty books on the topic available on Amazon's, this one is the best in my opinion (and I've read quite a few...).
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