If I ever teach any sort of college class on more practical applications of art, this book would make the curriculum too. It would be really interesting to do some kind of in-class re-creation of all these complexly interwoven interpersonal and economic relationships that create the strange animal that is the "art market". Quite an eye opener.
Again much too complex to hone down into my typical entry. This book delves into webs of different parties' competing and carefully balanced (though ever evolving) interests, strange stories of objects and people from an almost-foreign world--a different universe of value--and a number of densely math-y explanations for why these stories simultaneously make so much sense and none at all. I have a feeling that what follows will do it no justice at all.
"Art tells you things you don't know you need to know until you know them." Peter Schjedahl, art critic 53
"Art is sexy! Art is money-sexy! Art is money-sexy-social-climbing-fantastic!" Thomas Hoving, former Director, Metropolitan Museum of Art 53
"When the auction hammer falls, price becomes equated with value, and this is written into art history." 178
"...the 'hidden cost of rewards.' The theory says that rewarding highly motivated persons to undertake a task actually reduces their intrinsic motivation. It suggests that rewards related to output--for example, selling a painting--motivate more output, while subsidies that simply reward effort may decrease output." 181 ...how Randian...
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