[audiobook] The $12 Million Stuffed Shark: The Curious Economics of Contemporary Art by Don Thompson in Arts-Photography

Review

98 of 100 people found the following review helpful. A shark that is not alone swimming in those waters...By Reich ClaudeWritten by an economist who had access to the most important actors (collectors. dealers. auctioneers. curators. art fair organizers...) while doing his research. this book is an in-depth study of the way the contemporary art market functions. the part played by auction houses. dealers. big collectors. museums. the sometimes incestuous relationship that exists 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 artists reputation (the brand being the auction house. the gallery. the artist himself. a museum. or even a collector if he is important enough)and. most importantly. how these art brands are created. One insightful conclusion is that the art market. and 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. Tracey Emin. Jeff Koons or Andy Warhol. the auction houses Sothebys and Christies. the collectors Charles Saatchi or Ronald Lauder...) 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 slight spelling mistakes though. e.g. the Portuguese collector Jose Berardo becoming "Joe Bernardo". or the dealer Faggionato sometimes mistakenly spelt "Faccionato"). to the point and easy to read. Among the more than twenty books available on this topic on s. this one is the best in my opinion (and Ive read quite a few...).2 of 2 people found the following review helpful. ... in Art nor do I own any art and enjoyed this book tremendouslyBy daniel guerra villarrealI am not in any way involved in Art nor do I own any art and enjoyed this book tremendously. Being in real estate and finance made this book ever more compelling to read. There are a lot of parallels in the psychology and economics of trading modern art. real estate and any other alternative asset which makes this book a great way to force lateral thinking between two. arguably. unrelated sectors. I couldnt recommend this book more to anyone involved in finance or the trading of securities and assets. I wish this author wrote about other industries as the book details just about every revenue stream. challenge and opportunity in the dealer. auction house market. Anyhow. do read this book. It is quite good.2 of 2 people found the following review helpful. Very Good Book For Art CollectorsBy S. MorganI have recently read a number of books on art collecting and more specifically. contemporary art collecting. The $12 Million Shark: The Curious Economics of Contemporary Art. as compared to other books on this subject. provides a 360 degree view of the contemporary art market. The book provides a view of the market from the perspective of the collector. dealer and auction house and really gives the reader a sense of how the market operates and the pros and cons of this unique manner in which art is bought and sold. I enjoyed this book so much that I decided to purchase Mr. Thompsonrsquo;s more recent book on the same topic - The Supermodel and the Brillo Box: Back Stories and Peculiar Economics from the World of Contemporary Art.