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

by Don Thompson


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

ISBN: 0385666780

ISBN13: 978-0385666787

Author: Don Thompson

Category: Photo

Subcategory: History & Criticism

Language: English

Publisher: Anchor Canada (September 22, 2009)

Pages: 272 pages

ePUB book: 1479 kb

FB2 book: 1337 kb

Rating: 4.9

Votes: 293

Other Formats: docx azw mbr lrf





What kind of contemporary art did Charles Saatchi choose for the show? Jonathan Pylpchuk from Winnipeg, Canada showed a. .

What kind of contemporary art did Charles Saatchi choose for the show? Jonathan Pylpchuk from Winnipeg, Canada showed a miniature army camp containing black American GIs with amputated legs-some writhing, others dead. The title is Hopefully, I Will Live Through This With a Little Bit of Dignity. The book looks at the economics and psychology of art, dealers, and auctions. It explores money, lust, and the self-aggrandizement of possession, all important elements of the world of contemporary art. 7. 8.

Originally published: 2008. Includes bibliographical references (pages 255-260) and index

Originally published: 2008. Includes bibliographical references (pages 255-260) and index

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.

Don Thompson provides the single best guide to both the anthropology and the economics of contemporary art markets

Don Thompson provides the single best guide to both the anthropology and the economics of contemporary art markets. This book is fun and fascinating on just about every page.

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

Don Thompson is a professor and economist and holder of the Nabisco Brands Chair Emeritus at the Schulich School of Business at York University. He specializes in marketing, economic regulation, and strategic planning

Don Thompson is a professor and economist and holder of the Nabisco Brands Chair Emeritus at the Schulich School of Business at York University. He specializes in marketing, economic regulation, and strategic planning. He has taught at Harvard University, the London School of Economics, and the University of Toronto. He is the author or co-author of nine books and 75 published articles.

Readers will find a plethora of information on how the art world really works

Readers will find a plethora of information on how the art world really works. While reading the book, however, it is important to keep in mind two caveats.

Thompson begins the book by focusing on Damien Hirst’s sculpture of a shark, The Physical Impossibility of.Thompson has formed negative views both of Contemporary Art and of Contemporary Art dealers, and he uses these chapters to advance these views

Thompson begins the book by focusing on Damien Hirst’s sculpture of a shark, The Physical Impossibility of Death in the Mind of Someone Living. Thompson is highly critical of this work and uses this work as a springboard to his next three chapters-and primary thesis of the book-that Contemporary Art is all about branding and only about branding. Thompson has formed negative views both of Contemporary Art and of Contemporary Art dealers, and he uses these chapters to advance these views. Auction Price Auction House Schulich School Artistic Merit Auction Sale.

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The $12 Million Stuffed Shark delves into the economics and psychology of the contemporary art world – artists, dealers, auction houses, and wealthy collectors. If it’s true – as so often said – that 85 percent of new contemporary art is bad, why were record prices achieved at auction for works by 131 contemporary artists in 2006 alone, with astonishing new heights reached in 2007? The $12 Million Stuffed Shark explores money, lust, and the self-aggrandizement of possession in an attempt to determine what makes a particular work of art valuable while others are ignored. In the style of the bestselling Freakonomics, Thompson uses economic concepts to explain the unique practices employed, to great success, in the international contemporary art market. He discusses branding and marketing and how various strategies are tailored to a wealthy clientele, driving a "must-have" culture. Drawing on exclusive 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 surprising journey of discovery.From the Hardcover edition.
I 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 couldn't 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.
Brilliant piece uncovering the mystery of why we observe so-called works of art clearly void of artistic talent sell for exorbitant amounts of money. I like to consider myself an amateur art connoisseur, but maybe I am unworthy of such a title since I fail to comprehend how contemporary works can fetch more than a medieval masterpiece at auction. The author of this book has provided me much clarity on the absurdity of art values. His writing style is entertaining, intriguing, and practical.

I plan on acquiring his more recent works (2 books as of this review date), which appear to expound on this subject.
I 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. Thompson’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.
Written 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 artist's 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 Sotheby's and Christie's, 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 Amazon's, this one is the best in my opinion (and I've read quite a few...).
Great way to get up to speed on the insane and intriguing contemporary art market. Probably the most interesting conclusion I draw is based on my new understanding of why Stephen A Cohen is such a good and successful art collector / investor. When one achieves a high status in the contemporary art world, as has Stephen A Cohen, he gets 1) first looks at hot artists at discounted prices and 2) has the ability to turn a no-name artist into something more by simply buying his/her work. Thus, he easily gets the best deals and investment opportunities within the Contemporary art world. I liken this to insider trading in the world of stock trading, but in the contemporary art market, unlike the stock market, insider trading is legal - so no wonder he like the contemporary art market so much. To the victor go the spoils!
This is a very well documented encapsulation of all that is horrifyingly wrong with the art market today, esp in the USA and London where quality and talent is totally subjugated to and trumped by sensation, trendiness and outrage. No one is taught craft anymore with the result that the discerning eye in art has ceased to exist. Where is Robert Hughes when we need him? Don Thompson is doing a great job filling his shoes. The emperors are starkers, and the Gagosians of the world are, to my mind, making a fortune off of it. Caveat emptor !!!!
This book is an entire art education between covers.
There are several single paragraphs in this book that justify the price each on their own.
If you are an artist, especially one without millions in the bank, you need to read this book in order to understand how and where to steer your career.
If you are a would-be art collector, read this book before you find yourself with a garage full of worthless outfits for emperors you foolishly paid thousands or even millions for.
If you are a big time art dealer, high end "contemporary" artist, or any of the big-monied frauds involved in this worldwide art fraud circus; you have been outed. You don't need to buy this book. It only contains all the things you already know and do, and hoped no one would ever find out.

Buy this book!