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Drawing on interviews with 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 to reveal the source of Charles Saatchi's Midas touch, and how far a gallery like White Cube has contributed to Damien Hirst becoming one of the highest-earning artists in the world. And why does a leather jacket with silver chain attached, tossed in a corner and titled 'No One Ever Leaves', bring 690,000 at a 2007 Sotheby's auction The Twelve Million Dollar Stuffed Shark is the first book to look at the economics of the modern art world and the marketing strategies which power the market to produce such astronomical prices.

He lives in London and Toronto.Why would a smart New York investment banker pay twelve million dollars for the decaying, stuffed carcass of a shark? By what alchemy does Jackson Pollock' s drip painting No.5 1948 sell for $140 million? The first book to look at the economics of the modern art world, and the marketing strategies that power the market to produce such astronomical prices, this surprising and revelatory book 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. He has taught at the London School of Economics and the Harvard Business School. The result is a fascinating, shrewd and highly readable insight into a world where brand is everything.ĭon Thompson is an economist and professor of business specialising in art. Don Thompson talks to auction houses, dealers, and collectors to find out the source of Charles Saatchi's Midas touch, and how far a gallery like White Cube has contributed to Damien Hirst becoming the highest-earning artist in the world. Intriguing and entertaining, The 12 Million Stuffed Shark is a Freakonomics approach to the economics and psychology of the contemporary art world. Why would a smart New York investment banker pay twelve million dollars for the decaying, stuffed carcass of a shark By what alchemy does Jackson Pollock s. Why would a smart New York investment banker pay twelve million dollars for the decaying, stuffed carcass of a shark? How does Jackson Pollock's drip painting No.5 1948 sell for $140 million? And why does a leather jacket with silver chain attached, tossed in a corner and titled 'No One Ever Leaves', bring $690,000 at a 2007 Sotheby's auction? The Twelve Million Dollar Stuffed Shark is the first book to look at the economics of the modern art world and the strategies which power the market to produce such astronomical prices.

The twelve million dollar stuffed shark