Don thompson 12 million dollar shark

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don thompson 12 million dollar shark

The $12 Million Stuffed Shark: The Curious Economics of Contemporary Art by Don Thompson

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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Published 08.01.2019

4 Art books that significantly improved my life - Artcade

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

Don Thompson has good advice for anyone who walks into an art gallery with even vague thoughts of buying a work of art. Ignore the girl behind the desk who looks at you with withering disdain and says, 'Can I help you? She is only there to reinforce the idea that art galleries are temples of high culture into which the man off the street should step with fearful tread. No, bypass her desk and head for the guard - the bored-looking guy in the backroom who's constantly sneaking glances at his watch. Talk to him instead; no one else does.

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