- By Don Thompson

The Orange Balloon Dog: Bubbles, Turmoil and Avarice in the Contemporary Art Market

  • Title: The Orange Balloon Dog: Bubbles, Turmoil and Avarice in the Contemporary Art Market
  • Author: Don Thompson
  • ISBN: 9781771621526
  • Page: 261
  • Format: Paperback
  • The Orange Balloon Dog Bubbles Turmoil and Avarice in the Contemporary Art Market Within forty eight hours in the fall of buyers in the Sotheby s and Christie s New York auction houses spent billion on contemporary art Non taxed freeport warehouses around the globe are st

    Within forty eight hours in the fall of 2014, buyers in the Sotheby s and Christie s New York auction houses spent 1.7 billion on contemporary art Non taxed freeport warehouses around the globe are stacked with art held for speculation One of Jeff Koons five chromium plated stainless steel balloon dogs sold for 50 percent at auction than the previous record for anWithin forty eight hours in the fall of 2014, buyers in the Sotheby s and Christie s New York auction houses spent 1.7 billion on contemporary art Non taxed freeport warehouses around the globe are stacked with art held for speculation One of Jeff Koons five chromium plated stainless steel balloon dogs sold for 50 percent at auction than the previous record for any living artist A painting by Christopher Wool, featuring four lines from a Francis Ford Coppola movie stencilled in black on a white background, sold for 28 million In The Orange Balloon Dog, economist and bestselling author Don Thompson cites these and other fascinating examples to explore the sometimes baffling activities of the high end contemporary art market He examines what is at play in the exchange of vast amounts of money and what nudges buyers, even on the subconscious level, to imbue a creation with such high commercial value.Thompson analyzes the behaviours of buyers and sellers and delves into the competitions that define and alter the value of art in today s international market, from New York to London, Singapore to Beijing Take heed if your millions are tied up in stainless steel balloon dogs Thompson also warns of a looming bust of the contemporary art price balloon.

    1 thought on “The Orange Balloon Dog: Bubbles, Turmoil and Avarice in the Contemporary Art Market

    1. Decent read, essentially a 101 on the Contemporary Art market. Things I️ found interesting- The ways in which a good with no intrinsic value (like, say, bullion) with unique characteristics (unlike bullion) is priced. Makes sense that market makers (auctioneers, dealers), outsized players (famous collectors) and a few firms attempting to add transparency (Artsy et al) define prices at the high end of the market. - Also cool that the industry isn’t regulated and the Courts have made interesti [...]

    2. Interesting info about how the contemporary art market is changing and having to adapt to consumers preferences. A bit dense so it was hard to force myself to keep reading it. Not nearly as fun or interesting as his other books on contemporary art.

    3. Interesting, educational, entertaining and concise. Explains the business angles surrounding the contemporary art market.

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