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The $12 Million Stuffed Shark
Don Thompson
The Curious Economics Of Contemporary Art
Palgrave Macmillan
September 2008
On Sale: September 16, 2008
272 pages
ISBN: 0230610226
EAN: 9780230610224
Kindle: B0077QZ208
Paperback / e-Book
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Non-Fiction
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 both 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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