speedmaster
New Member
I saw this (The $12 Million Stuffed Shark: The Curious Economics of Contemporary Art by Don Thompson) reviewed earlier in the year and put it in my queue. Didn't think much more of it until I saw it on the new book shelf at the library recently. Normally, I have no notable interest in contemporary/modern art. But the title definitely piqued my curiosity.
If art fakes can easily fool so many experts, why are the originals worth so much?
-- George Carlin (paraphrased)
This book is somewhat like Stiff: The Curious Lives of Human Cadavers, but focused on art, instead of corpses. Maybe Stiff: The Curious Lives of Human Cadavers crossed with art and a touch of Freakonomics? ;-)
The centerpiece of the book is a detailed look into the two main auction houses for art: Christie's and Sotheby's.
In just the first few chapters the reader quickly realizes that art auctions are perhaps 40% marketing, with the rest being a combination of signaling and high-end theater. The relationships between the major players (consignors, dealers, bankers, buyers/bidders, guarantors, consultants, critics, etc.) are complex. And the industry is mature. Each of the players has a role that includes feeding off the others as well as serving them. Branding is a huge part of this industry, for both auction houses as well as celebrity artists.
I left the full review here:
Book Review: The $12 Million Stuffed Shark: The Curious Economics of Contemporary Art
If art fakes can easily fool so many experts, why are the originals worth so much?
-- George Carlin (paraphrased)
This book is somewhat like Stiff: The Curious Lives of Human Cadavers, but focused on art, instead of corpses. Maybe Stiff: The Curious Lives of Human Cadavers crossed with art and a touch of Freakonomics? ;-)
The centerpiece of the book is a detailed look into the two main auction houses for art: Christie's and Sotheby's.
In just the first few chapters the reader quickly realizes that art auctions are perhaps 40% marketing, with the rest being a combination of signaling and high-end theater. The relationships between the major players (consignors, dealers, bankers, buyers/bidders, guarantors, consultants, critics, etc.) are complex. And the industry is mature. Each of the players has a role that includes feeding off the others as well as serving them. Branding is a huge part of this industry, for both auction houses as well as celebrity artists.
I left the full review here:
Book Review: The $12 Million Stuffed Shark: The Curious Economics of Contemporary Art