The Economics of Contemporary Art

The Economics of Contemporary Art

Author: Alessia Zorloni

Publisher: Springer Science & Business Media

Published: 2013-04-16

Total Pages: 195

ISBN-13: 3642324053

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The book examines the contemporary art system with a broad and systematic approach, through the application of models of microeconomics and industrial organizations. By breaking down the traditional barriers between different academic disciplines such as art and economics, this book offers a unique opportunity to grasp the complexities of the contemporary art world and provides the tools to conduct a structural analysis of that market. The result is an in-depth analysis of the contemporary art market from an interdisciplinary perspective. While it is not a textbook in the strictest sense, the book offers a concise and effective overview of all actors in the art system, and provides supporting data and valuable information, both conceptual and practical. It is therefore a text that can be used by students wishing to better understand the complex dynamics that govern the contemporary art market, but also by cultural managers, collectors, potential art investors or simply art lovers who need a quick reference.​


Book Synopsis The Economics of Contemporary Art by : Alessia Zorloni

Download or read book The Economics of Contemporary Art written by Alessia Zorloni and published by Springer Science & Business Media. This book was released on 2013-04-16 with total page 195 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book examines the contemporary art system with a broad and systematic approach, through the application of models of microeconomics and industrial organizations. By breaking down the traditional barriers between different academic disciplines such as art and economics, this book offers a unique opportunity to grasp the complexities of the contemporary art world and provides the tools to conduct a structural analysis of that market. The result is an in-depth analysis of the contemporary art market from an interdisciplinary perspective. While it is not a textbook in the strictest sense, the book offers a concise and effective overview of all actors in the art system, and provides supporting data and valuable information, both conceptual and practical. It is therefore a text that can be used by students wishing to better understand the complex dynamics that govern the contemporary art market, but also by cultural managers, collectors, potential art investors or simply art lovers who need a quick reference.​

The $12 Million Stuffed Shark

The $12 Million Stuffed Shark

Author: Don Thompson

Publisher: St. Martin's Press

Published: 2012-02-21

Total Pages: 281

ISBN-13: 0230341934

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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.


Book Synopsis The $12 Million Stuffed Shark by : Don Thompson

Download or read book The $12 Million Stuffed Shark written by Don Thompson and published by St. Martin's Press. This book was released on 2012-02-21 with total page 281 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

The Economics of Contemporary Latin America

The Economics of Contemporary Latin America

Author: Beatriz Armendariz

Publisher: MIT Press

Published: 2017-05-05

Total Pages: 461

ISBN-13: 0262337878

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Analysis of Latin America's economy focusing on development, covering the colonial roots of inequality, boom and bust cycles, labor markets, and fiscal and monetary policy. Latin America is richly endowed with natural resources, fertile land, and vibrant cultures. Yet the region remains much poorer than its neighbors to the north. Most Latin American countries have not achieved standards of living and stable institutions comparable to those found in developed countries, have experienced repeated boom-bust cycles, and remain heavily reliant on primary commodities. This book studies the historical roots of Latin America's contemporary economic and social development, focusing on poverty and income inequality dating back to colonial times. It addresses today's legacies of the market-friendly reforms that took hold in the 1980s and 1990s by examining successful stabilizations and homemade monetary and fiscal institutional reforms. It offers a detailed analysis of trade and financial liberalization, twenty–first century-growth, and the decline in poverty and income inequality. Finally, the book offers an overall analysis of inclusive growth policies for development—including gender issues and the informal sector—and the challenges that lie ahead for the region, with special attention to pressing demands by the vibrant and vocal middle class, youth unemployment, and indigenous populations.


Book Synopsis The Economics of Contemporary Latin America by : Beatriz Armendariz

Download or read book The Economics of Contemporary Latin America written by Beatriz Armendariz and published by MIT Press. This book was released on 2017-05-05 with total page 461 pages. Available in PDF, EPUB and Kindle. Book excerpt: Analysis of Latin America's economy focusing on development, covering the colonial roots of inequality, boom and bust cycles, labor markets, and fiscal and monetary policy. Latin America is richly endowed with natural resources, fertile land, and vibrant cultures. Yet the region remains much poorer than its neighbors to the north. Most Latin American countries have not achieved standards of living and stable institutions comparable to those found in developed countries, have experienced repeated boom-bust cycles, and remain heavily reliant on primary commodities. This book studies the historical roots of Latin America's contemporary economic and social development, focusing on poverty and income inequality dating back to colonial times. It addresses today's legacies of the market-friendly reforms that took hold in the 1980s and 1990s by examining successful stabilizations and homemade monetary and fiscal institutional reforms. It offers a detailed analysis of trade and financial liberalization, twenty–first century-growth, and the decline in poverty and income inequality. Finally, the book offers an overall analysis of inclusive growth policies for development—including gender issues and the informal sector—and the challenges that lie ahead for the region, with special attention to pressing demands by the vibrant and vocal middle class, youth unemployment, and indigenous populations.

Art and the Global Economy

Art and the Global Economy

Author: John Zarobell

Publisher: Univ of California Press

Published: 2017-04-18

Total Pages: 340

ISBN-13: 0520291522

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Introduction : measuring the economy of the arts -- Museums in flux -- The exhibitionary complex -- Art and the global marketplace -- Conclusion : non-profits and artist collectives as market alternatives


Book Synopsis Art and the Global Economy by : John Zarobell

Download or read book Art and the Global Economy written by John Zarobell and published by Univ of California Press. This book was released on 2017-04-18 with total page 340 pages. Available in PDF, EPUB and Kindle. Book excerpt: Introduction : measuring the economy of the arts -- Museums in flux -- The exhibitionary complex -- Art and the global marketplace -- Conclusion : non-profits and artist collectives as market alternatives

Handbook of the Economics of Art and Culture

Handbook of the Economics of Art and Culture

Author:

Publisher: Newnes

Published: 2013-09-16

Total Pages: 705

ISBN-13: 0444537775

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This volume emphasizes the economic aspects of art and culture, a relatively new field that poses inherent problems for economics, with its quantitative concepts and tools. Building bridges across disciplines such as management, art history, art philosophy, sociology, and law, editors Victor Ginsburgh and David Throsby assemble chapters that yield new perspectives on the supply and demand for artistic services, the contribution of the arts sector to the economy, and the roles that public policies play. With its focus on culture rather than the arts, Ginsburgh and Throsby bring new clarity and definition to this rapidly growing area. Presents coherent summaries of major research in art and culture, a field that is inherently difficult to characterize with finance tools and concepts Offers a rigorous description that avoids common problems associated with art and culture scholarship Makes details about the economics of art and culture accessible to scholars in fields outside economics


Book Synopsis Handbook of the Economics of Art and Culture by :

Download or read book Handbook of the Economics of Art and Culture written by and published by Newnes. This book was released on 2013-09-16 with total page 705 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume emphasizes the economic aspects of art and culture, a relatively new field that poses inherent problems for economics, with its quantitative concepts and tools. Building bridges across disciplines such as management, art history, art philosophy, sociology, and law, editors Victor Ginsburgh and David Throsby assemble chapters that yield new perspectives on the supply and demand for artistic services, the contribution of the arts sector to the economy, and the roles that public policies play. With its focus on culture rather than the arts, Ginsburgh and Throsby bring new clarity and definition to this rapidly growing area. Presents coherent summaries of major research in art and culture, a field that is inherently difficult to characterize with finance tools and concepts Offers a rigorous description that avoids common problems associated with art and culture scholarship Makes details about the economics of art and culture accessible to scholars in fields outside economics

The Supermodel and the Brillo Box

The Supermodel and the Brillo Box

Author: Don Thompson

Publisher: Macmillan

Published: 2014-05-27

Total Pages: 298

ISBN-13: 1137279087

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Presents a look at the economics and psychology of the contemporary art market and examines the dominant role of a few auction houses and high-end galleries in setting its prices.


Book Synopsis The Supermodel and the Brillo Box by : Don Thompson

Download or read book The Supermodel and the Brillo Box written by Don Thompson and published by Macmillan. This book was released on 2014-05-27 with total page 298 pages. Available in PDF, EPUB and Kindle. Book excerpt: Presents a look at the economics and psychology of the contemporary art market and examines the dominant role of a few auction houses and high-end galleries in setting its prices.

Boom

Boom

Author: Michael Shnayerson

Publisher: PublicAffairs

Published: 2019-05-21

Total Pages: 464

ISBN-13: 1610398416

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The meteoric rise of the largest unregulated financial market in the world-for contemporary art-is driven by a few passionate, guileful, and very hard-nosed dealers. They can make and break careers and fortunes. The contemporary art market is an international juggernaut, throwing off multimillion-dollar deals as wealthy buyers move from fair to fair, auction to auction, party to glittering party. But none of it would happen without the dealers-the tastemakers who back emerging artists and steer them to success, often to see them picked off by a rival. Dealers operate within a private world of handshake agreements, negotiating for the highest commissions. Michael Shnayerson, a longtime contributing editor to Vanity Fair, writes the first ever definitive history of their activities. He has spoken to all of today's so-called mega dealers-Larry Gagosian, David Zwirner, Arne and Marc Glimcher, and Iwan Wirth-along with dozens of other dealers-from Irving Blum to Gavin Brown-who worked with the greatest artists of their times: Jackson Pollock, Andy Warhol, Cy Twombly, and more. This kaleidoscopic history begins in the mid-1940s in genteel poverty with a scattering of galleries in midtown Manhattan, takes us through the ramshackle 1950s studios of Coenties Slip, the hipster locations in SoHo and Chelsea, London's Bond Street, and across the terraces of Art Basel until today. Now, dealers and auctioneers are seeking the first billion-dollar painting. It hasn't happened yet, but they are confident they can push the price there soon.


Book Synopsis Boom by : Michael Shnayerson

Download or read book Boom written by Michael Shnayerson and published by PublicAffairs. This book was released on 2019-05-21 with total page 464 pages. Available in PDF, EPUB and Kindle. Book excerpt: The meteoric rise of the largest unregulated financial market in the world-for contemporary art-is driven by a few passionate, guileful, and very hard-nosed dealers. They can make and break careers and fortunes. The contemporary art market is an international juggernaut, throwing off multimillion-dollar deals as wealthy buyers move from fair to fair, auction to auction, party to glittering party. But none of it would happen without the dealers-the tastemakers who back emerging artists and steer them to success, often to see them picked off by a rival. Dealers operate within a private world of handshake agreements, negotiating for the highest commissions. Michael Shnayerson, a longtime contributing editor to Vanity Fair, writes the first ever definitive history of their activities. He has spoken to all of today's so-called mega dealers-Larry Gagosian, David Zwirner, Arne and Marc Glimcher, and Iwan Wirth-along with dozens of other dealers-from Irving Blum to Gavin Brown-who worked with the greatest artists of their times: Jackson Pollock, Andy Warhol, Cy Twombly, and more. This kaleidoscopic history begins in the mid-1940s in genteel poverty with a scattering of galleries in midtown Manhattan, takes us through the ramshackle 1950s studios of Coenties Slip, the hipster locations in SoHo and Chelsea, London's Bond Street, and across the terraces of Art Basel until today. Now, dealers and auctioneers are seeking the first billion-dollar painting. It hasn't happened yet, but they are confident they can push the price there soon.

The Evolution of Contemporary Arts Markets

The Evolution of Contemporary Arts Markets

Author: Andrés Solimano

Publisher: Routledge

Published: 2021-09-30

Total Pages: 93

ISBN-13: 1000488128

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The Evolution of Contemporary Arts Markets looks at the historical evolution of the art market from the 15th century to the present day. Art is both an expression of human creativity and an object of economic value and financial refuge at times of economic turbulence. Historically, the art market evolved with the development of capitalism, finance and technical change, and art schools responded to social events such as wars, revolutions and waves of democratization. The author discusses the main features of modern art markets such as complexity in art valuation, globalism, segmentation, financialization, indivisibility, liquidity and provenance issues. The book studies the impact of wealth inequality and economic cycles and crises on the art market and features a chapter focusing specifically on the art market in China. This accessible publication is ideal for a broad, interdisciplinary audience including those involved in the economic and financial fields as well as art lovers, art market participants and social and cultural scholars.


Book Synopsis The Evolution of Contemporary Arts Markets by : Andrés Solimano

Download or read book The Evolution of Contemporary Arts Markets written by Andrés Solimano and published by Routledge. This book was released on 2021-09-30 with total page 93 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Evolution of Contemporary Arts Markets looks at the historical evolution of the art market from the 15th century to the present day. Art is both an expression of human creativity and an object of economic value and financial refuge at times of economic turbulence. Historically, the art market evolved with the development of capitalism, finance and technical change, and art schools responded to social events such as wars, revolutions and waves of democratization. The author discusses the main features of modern art markets such as complexity in art valuation, globalism, segmentation, financialization, indivisibility, liquidity and provenance issues. The book studies the impact of wealth inequality and economic cycles and crises on the art market and features a chapter focusing specifically on the art market in China. This accessible publication is ideal for a broad, interdisciplinary audience including those involved in the economic and financial fields as well as art lovers, art market participants and social and cultural scholars.

Art of the Deal

Art of the Deal

Author: Noah Horowitz

Publisher: Princeton University Press

Published: 2014-08-31

Total Pages: 400

ISBN-13: 069115788X

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Art today is defined by its relationship to money as never before. Prices of living artists' works have been driven to unprecedented heights, conventional boundaries within the art world have collapsed, and artists now think ever more strategically about how to advance their careers. Artists no longer simply make art, but package, sell, and brand it. 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. He takes a unique look at the globalization of the art world and the changing face of the business, offering the clearest analysis yet of how investors speculate in the market and how emerging art forms such as video and installation have been drawn into the commercial sphere. By carefully examining these developments against the backdrop of the deflation of the contemporary art bubble in 2008, "Art of the Deal" is a must-read book that demystifies collecting and investing in today's art market.


Book Synopsis Art of the Deal by : Noah Horowitz

Download or read book Art of the Deal written by Noah Horowitz and published by Princeton University Press. This book was released on 2014-08-31 with total page 400 pages. Available in PDF, EPUB and Kindle. Book excerpt: Art today is defined by its relationship to money as never before. Prices of living artists' works have been driven to unprecedented heights, conventional boundaries within the art world have collapsed, and artists now think ever more strategically about how to advance their careers. Artists no longer simply make art, but package, sell, and brand it. 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. He takes a unique look at the globalization of the art world and the changing face of the business, offering the clearest analysis yet of how investors speculate in the market and how emerging art forms such as video and installation have been drawn into the commercial sphere. By carefully examining these developments against the backdrop of the deflation of the contemporary art bubble in 2008, "Art of the Deal" is a must-read book that demystifies collecting and investing in today's art market.

What Is Contemporary Art?

What Is Contemporary Art?

Author: Terry Smith

Publisher: University of Chicago Press

Published: 2012-08-10

Total Pages: 345

ISBN-13: 022613167X

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Who gets to say what counts as contemporary art? Artists, critics, curators, gallerists, auctioneers, collectors, or the public? Revealing how all of these groups have shaped today’s multifaceted definition, Terry Smith brilliantly shows that an historical approach offers the best answer to the question: What is Contemporary Art? Smith argues that the most recognizable kind is characterized by a return to mainstream modernism in the work of such artists as Richard Serra and Gerhard Richter, as well as the retro-sensationalism of figures like Damien Hirst and Takashi Murakami. At the same time, Smith reveals, postcolonial artists are engaged in a different kind of practice: one that builds on local concerns and tackles questions of identity, history, and globalization. A younger generation embodies yet a third approach to contemporaneity by investigating time, place, mediation, and ethics through small-scale, closely connective art making. Inviting readers into these diverse yet overlapping art worlds, Smith offers a behind-the-scenes introduction to the institutions, the personalities, the biennials, and of course the works that together are defining the contemporary. The resulting map of where art is now illuminates not only where it has been but also where it is going.


Book Synopsis What Is Contemporary Art? by : Terry Smith

Download or read book What Is Contemporary Art? written by Terry Smith and published by University of Chicago Press. This book was released on 2012-08-10 with total page 345 pages. Available in PDF, EPUB and Kindle. Book excerpt: Who gets to say what counts as contemporary art? Artists, critics, curators, gallerists, auctioneers, collectors, or the public? Revealing how all of these groups have shaped today’s multifaceted definition, Terry Smith brilliantly shows that an historical approach offers the best answer to the question: What is Contemporary Art? Smith argues that the most recognizable kind is characterized by a return to mainstream modernism in the work of such artists as Richard Serra and Gerhard Richter, as well as the retro-sensationalism of figures like Damien Hirst and Takashi Murakami. At the same time, Smith reveals, postcolonial artists are engaged in a different kind of practice: one that builds on local concerns and tackles questions of identity, history, and globalization. A younger generation embodies yet a third approach to contemporaneity by investigating time, place, mediation, and ethics through small-scale, closely connective art making. Inviting readers into these diverse yet overlapping art worlds, Smith offers a behind-the-scenes introduction to the institutions, the personalities, the biennials, and of course the works that together are defining the contemporary. The resulting map of where art is now illuminates not only where it has been but also where it is going.