Economics Books

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 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.

An eye-opening look at collecting and investing in today’s art marketArt today is defined by its relationship to money as never before. Prices have been driven to unprecedented heights, conventional boundaries within the art world have collapsed, and artists think ever more strategically about how to advance their careers. Art is no longer simply made, but packaged, sold, and branded. In Art of the Deal , Noah Horowitz exposes the inner workings of the contemporary art market, explaining how this unique economy came to be, how it works, and where it's headed. In a new postscript, Horowitz reflects on the market’s continued ascent as well as its most urgent challenges.

This book would be a good read for someone who is curious about the journey of Singapore's art scene. Through personal reflections and aspirations, it provides an authentic voice of those who have shaped the cultural landscape of the city. It not only showcases the diversity of creative industries but also highlights the crucial role of heritage development in Singapore's artistic evolution. Whether you are an art enthusiast or simply interested in understanding the transformation of a city through art, this anthology offers valuable insights and real-life experiences that will leave you inspired.