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The $12 Million Stuffed Shark: The Curious Economics of Contemporary Art

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The $12 Million Stuffed Shark: The Curious Economics of Contemporary Art Cover

 

Synopses & Reviews

Publisher Comments:

Why would a smart New York investment banker pay $12 million for the decaying, stuffed carcass of a shark? By what alchemy does Jackson Pollocks 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.

Synopsis:

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.

About the Author

Don Thompson teaches marketing and economics in the MBA program at the Schulich School of Business at York University in Toronto. He has  taught at the London School of Economics and at Harvard Business School. He lives in London and Toronto.

Table of Contents

The $12 Million Stuffed Shark * Branding and Insecurity * Branded Auctions * Branded Dealers * The Art of the Dealer * Art and Artists * Damien Hirst and the Shark * Warhol, Koons, and Emin * Charles Saatchi: Branded Collector * Christies and Sothebys * Choosing an Auction Hammer * Auction Psychology * The Secret World of Auctions * Francis Bacons Perfect Portrait * Auction Houses vs Dealers * Art Fairs: The Dealers Final Frontier * Art and Money * Pricing Contemporary Art * Fakes * Art Critics * Museums * End Game * Contemporary Art as an Investment * Postscript

Product Details

ISBN:
9780230620599
Author:
Thompson, Don
Publisher:
Palgrave MacMillan
Subject:
Popular Culture - General
Subject:
Business Aspects
Subject:
Consumer Behavior - General
Subject:
Consumer behavior
Subject:
Art - General
Copyright:
Edition Description:
Trade Paperback
Publication Date:
20100431
Binding:
TRADE PAPER
Grade Level:
General/trade
Language:
English
Illustrations:
Plus one 8-page color photograph insert
Pages:
272
Dimensions:
9.2 x 6.2 x 0.78 in

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Related Subjects

Arts and Entertainment » Architecture » Architects
Arts and Entertainment » Art » Contemporary
Arts and Entertainment » Art » General
Arts and Entertainment » Art » Museology
Arts and Entertainment » Art » Theory and Criticism

The $12 Million Stuffed Shark: The Curious Economics of Contemporary Art New Trade Paper
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$17.00 In Stock
Product details 272 pages Palgrave MacMillan - English 9780230620599 Reviews:
"Synopsis" by , 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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