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The $12 Million Stuffed Shark: The Curious Economics of Contemporary Art - Don Thompson
The $12 Million Stuffed Shark: The Curious Economics of Contemporary Art
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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... show more
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 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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Format: paperback
ISBN: 9780230620599 (0230620590)
Publisher: Palgrave Macmillan
Pages no: 268
Edition language: English
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Community Reviews
Sparrow
Sparrow rated it
The art business seems to me like this weird cross-section of fashion and property. I read this book for a class that I loved with this really great professor who has the quietest, most monotone voice of any professor I’ve had. It was a lovely class, though. I played Bejeweled 3 through most of t...
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