the curious economics of contemporary art

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. 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. 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 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. A clear-headed approach to a frequently high-pitched issue.' - Kirkus About the Author:īook Description Paperback. ' informative an occasionally hilarious look at the surreal contemporary art market.

'A new book by an economist named Don Thompson entitled $12 Million Stuffed Shark: The Curious Economics of Contemporary Art ought to be required reading for collectors intending to wade into well publicized contemporary art auctions.'. '.it's lucid, well researched and, while carefully balanced, manages to retain a sharp edge. 'If you read no other book about art in your life, read the one that's gripped me like a thriller for the past two 's called the $12 Million Stuffed Shark.' - Richard Morrison, The Times (London) This book is fun and fascinating on just about every page.' - Tyler Cowen, New York Sun 'Don Thompson provides the single best guide to both the anthropology and the economics of contemporary art markets.

'Don Thompson has written, by far, the best book on the economics of the contemporary art market yet written.' - Felix Salmon,

The curious economics of contemporary art