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    The $12 Million Stuffed Shark: The Curious Economics of Contemporary Art
    The $12 Million Stuffed Shark: The Curious Economics of Contemporary Art
    The $12 Million Stuffed Shark: The Curious Economics of Contemporary Art
    Audiobook10 hours

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

    Written by Don Thompson

    Narrated by Adam Verner

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    About this audiobook

    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 listener on a journey of discovery through the peculiar world of modern art. Surprising, passionate, gossipy, and revelatory, The $12 Million Stuffed Shark reveals a great deal that even experienced auction purchasers do not know.
    LanguageEnglish
    PublisherTantor Media, Inc
    Release dateFeb 7, 2017
    ISBN9781515982494
    Author

    Don Thompson

    Don Thompson is an economist and Emeritus Nabisco Brands Professor of Marketing and Strategy at the Schulich School of Business at York University in Toronto. He is the author of The Supermodel and the Brillo Box. He has taught at Harvard Business School and the London School of Economics, and is the author of 11 books. He writes on the economics of the art market for publications as diverse as The Times (London), Harper’s Magazine, and The Art Economist. He lives in Toronto, Canada.

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    Reviews for The $12 Million Stuffed Shark

    4/5

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    • 3/5
      Interesting and unsentimental analysis of the contemporary art market. However, the book's understanding of what it sees as the failure of government funded programs to produce well known artists is disappointingly shallow and soured me on the book. It has value, but some limitations.
    • 5/5
      Terrific book! Great details regarding the art auction world. Some of the figures provided are a little dated as the art market has grown even more since this book was originally published in 2008. Thank you for this wonderful book!
    • 4/5
      If you don’t follow art trends within the market then you will hate this book. It is a lot of numbers about sales, and the only reason it would be thrilling to a reader is if they’re interested in professional art. Working as an art handler on and off over the course of 2011, I had a very limited view of the art market. I understood that it was a game for the rich, and in many ways, fixed. The $12 Million Stuffed Shark may not be 100% factual but it will still open your mind to many realities that, until now, have been kept hidden. What is the difference between an art dealer, a gallery, and an auction house? Why is contemporary art catching up in prices with the old masters? Why do some artists with limited talent still get into big galleries? Is art a good investment? Why is it so important to be branded? All of these questions, and more, are answered in this book. If you are planning to go to art school, become an artist, or already are one, this is a mandatory read, especially if you hope to find even a little success in the gallery system. This has warped my thinking. I feel as if many of the mysteries of the art world have been revealed. I feel like an insider now. Thank you Don Thompson.
    • 4/5
      A curious and intoxicating read that will leave you dizzy with amazement tinged with disappointment over the contemporary art market.