Vogel, Carol. “Think Big. Build Big. Sell Big: Whitney Retrospective for Jeff Koons’ Monumental Ambitions.” The New York Times, June 11, 2014.
Chapter 4 $26 Million for Nine Words
Ganek, Danielle. Lulu Meets God and Doubts Him. New York: Plume, 2008.
Silver, Vernon and James Tarmy. “The 350,000 Percent Rise of Christopher Wool’s Masterpiece Painting.” Bloomberg, October 9, 2014.
Chapter 5 Jeff Koons and Popeye
Plagens, Peter. “Confectionary Overload.” The Wall Street Journal, July 21, 2014.
Rosenbaum, Lee (CultureGrrl). “Koons, Whitney, Wynn and My ‘Greater Fool’ Theory of Trophy Art.” July 24, 2014.
Salmon, Felix. “Jeff Koons: a master innovator turning money into art.” The Guardian, July 3, 2014.
Sischy, Ingrid. “Jeff Koons Is Back!” Vanity Fair, July 20, 2014.
Vogel, Carol. “Think Big. Build Big. Sell Big: Whitney Retrospective for Jeff Koons’ Monumental Ambitions.” The New York Times, June 11, 2014.
Chapter 6 Ludwig’s Play-Doh
Goldstein, Andrew M. “Dealer Adam Lindemann on Picking Winners in a Superheated Art Market.” Artspace, June 11, 2014. This is the article where Lindemann discusses flipping Koons’ Hanging Heart sculpture.
Chapter 8 Foraging for Collectors and Consignors
Crow, Kelly. “The Art World’s High-Roller Specialist.” The Wall Street Journal, November 6, 2014.
Mead, Rebecca. “The Daredevil of the Auction World.” The New Yorker, July 4, 2016.
Chapter 9 Lisson Goes to New York
Paumgarten, Nick. “Dealer’s Hand: Why Are so Many People Paying so Much Money for Art? Ask David Zwirner.” The New Yorker, December 2, 2013.
Resch, Magnus. Management of Art Galleries. Ostfildern: Hatje Cantz (2014). This is a doctoral dissertation, originally a bestseller on Amazon. It sets out options followed by successful galleries.
Tully, Judd. “London Calling.” Blouin Art+Auction, June 2014.
Chapter 10 the Art Adviser
Crow, Kelly. “Christie’s to Lose Contemporary-Art Chief.” The Wall Street Journal, December 13, 2013.
“Fiduciary.” Investopedia. October 7, 2016. http://www.investopedia.com/terms/f/fiduciary.asp.
Goldstein, Andrew M. “Art Advisor Annelien Bruins on the Realities of Art Investment.” ArtSpace, February 12, 2014.
“International Fair Report 2016.” London; New York: The Art Newspaper International Edition, June 2016.
Kazanjian, Dodie. “What Does Amy Cappellazzo’s Move from Christie’s Say About the Changing Face of the Art Market?” Vogue, March 7, 2014.
Pogrebin, Robin and Graham Bowley. “Soaring Art Market Attracts a New Breed of Advisers for Collectors.” The New York Times, August 22, 2015.
Chapter 11 Perelman v. Gagosian
Dolmetsch, Chris. “N.Y. Art Gallery Owner Gagosian Wins End to Perelman Suit.” Bloomberg, December 4, 2014.
Frank, Robert. “The Feud That’s Shaking Gallery Walls.” The New York Times, October 18, 2014.
Halpern, Julia. “Trust No One: Victory for Gagosian in Two-Year Case.” The Art Newspaper, January 2015.
Konigsberg, Eric. “The Trials of Art Superdealer Larry Gagosian.” New York Magazine, January 28, 2013.
The initial decision in the cases discussed in the chapter is Kapnick, Barbara R. MAFG Art Fund, LLC v Gagosian. 2014 NY Slip OP 30321 (U). New York: Supreme Court of the State of New York, February 3, 2014. This is the ruling of Justice Barbara Kapnick, and includes identification of the works of art included in the proposed art swap.
The appeal court decision is MAFG Art Fund, LLC v Gagosian. 2014 NY Slip OP 08499. New York: Supreme Court of the State of New York, December 4, 2014.
The ABA case mentioned is Arthur Properties, S.A. v ABA Gallery, Inc. No. 11 Civ. 4409. Southern District of New York: US District Court, November 28, 2011.
The Cowles case is Cowles v Gagosian. 2012 NY Slip OP 33156 (U). New York County: Supreme Court of the State of New York, August 22, 2012. Citing DDJ Mgt. LLC v Rhone Group LLC. 2010 NY Slip OP 05603 [15 NY3d 147]. New York: Court of Appeals, June 24, 2010.
Chapter 12 The Knoedler Fakes
Bowley, Graham. “Peter Doig Says He Didn’t Paint This. Now He Has to Prove It.” The New York Times, July 7, 2016.
Charney, Noah. The Art of Forgery: The Minds, Motives and Methods of Master Forgers. London: Phaidon Press Ltd, 2015.
Cohen, Patricia. “Suitable for Suing.” The New York Times, February 22, 2012.
Kinsella, Eileen. “Dodgy eBay Sellers Peddle Tall Tales and Fake Art.” artnet News, July 9, 2014.
Maloney, Jennifer. “The Deep Freeze in Art Authentication.” The Wall Street Journal, April 24, 2014.
Perenyi, Ken. Caveat Emptor: The Secret Life of an American Art Forger. New York: Pegasus Books, 2013.
Chapter 13 Government-Plundered Art
Cascone, Sarah. “Reclaiming Art Seized by Castro’s Government Will Be An Uphill Battle.” artnet News, January 8, 2015.
O’Grady, Mary Anastasia. “Castro’s Art Theft Puts Sotheby’s on the Spot.” The Wall Street Journal, October 29, 2004.
“In the Shadow of the Holocaust: An Art Trove Exposes a Legal Vacuum.” The Economist, November 30, 2013.
Mashberg, Tom. “A Son Seeks Art Looted by the East Germans.” The New York Times, November 27, 2014.
Tully, Judd. “A New Cuban Front.” Blouin Art+Auction, March 2015.
Chapter 14 Freeports and Tax Ploys
Alden, William. “Art for Money’s Sake.” The New York Times Sunday Magazine, February 3, 2015.
Bowley, Graham and Doreen Carvajal. “One of the World’s Greatest Art Collections Hides Behind This Fence.” The New York Times, May 28, 2016.
De Sanctis, Fausto Martin. Money Laundering Through Art: A Criminal Justice Perspective. Cham; New York: Springer, 2013. This is a doctoral dissertation written from a legal perspective. If you are interested in the use of Bitcoins and other minutia in art dodges, this is the book.
Segal, David. “Swiss Freeports Are Home for a Growing Treasury of Art.” International New York Times, July 21, 2012.
“Über-Warehouses for the Ultra-Rich.” The Economist, November 23, 2013.
Wayne, Leslie. “Cook Islands, a Paradise of Untouchable Assets.” The New York Times, December 14, 2013.
Chapter 15 The Uneasy Marriage of Art + Fashion
Currid, Elizabeth. The Warhol Economy: How Fashion, Art and Music Drive New York City. Princeton: Princeton University Press, 2007.
Farago, Jason. “Thom Browne’s Shoes: High Fashion and High Art.” The New York Times, March 17, 2016.
Gregory, Alice. “Art and Fashion: The Mutual Appreciation Society.” The Wall Street Journal, March 28, 2014.
Kubler, Alison and Mitchell Oakley Smith. Art/Fashion in the 21st Century. New York: Thames & Hudson, 2013.
Warhol, Andy and Pat Hackett. POPISM: The Warhol Sixties. Orlando: Mariner Books, 2006. www.whereartmeetsfashion.wordpress.com for other examples of art + fashion.
Chapter 16 Art Market Regulation
Adam, Georgina. “Guidelines to regulate market are an ‘impossible dream’.” The Art Newspaper, March 2015.
Gapper, John and Peter Aspden. “Nouriel Roubini Says Art Market Needs Regulation.” Financial Times, January 22, 2015.
Gapper, John. “Art worlds shady dealings under scrutiny at Davos.” Financial Times, January 22, 2015.
Gerlis, Melanie. Art as an Investment?: A Survey of Comparative Assets. Farnham: Lund Humphries, 2014.
Heddaya, Mostafa. “A Regulated Art Market?” Blouin Art+Auction, April 2015.
Reyburn, Scott. “Can an Economist’s Theory Apply to Art?” The New York Times, April 20, 2014.
Chapter 17 Art in an Uber World
Alden, William. “Art for Money’s Sake.” New York Times Magazine, February 3, 2015.
gallerypoulsen. Instagram post. March 5, 2015. https://instagram.com/p/z2ci5MRSyy/. The Poulsen pho
to shot from the Pulse Art fair. The Nachlass work is at the center rear.
“Out with the old, in with the new.” The Economist, January 3, 2013.
de Pury, Simon and William Stadiem. The Auctioneer: Adventures in the Art Trade. New York: St. Martin’s Press, 2016.
Winkleman, Edward. Selling Contemporary Art: How to Navigate the Evolving Market. New York: Allworth Press, 2015.
Chapter 18 Not Your Father’s Museum
Art Museums by the Numbers 2014. Association of Art Museum Directors, 2015. This is the source for funding information on art museums in the chapter. It is based on responses from 204 museums in the United States and 16 in Canada and Mexico.
Cohen, Patricia. “Writing Off the Warhol Next Door.” The New York Times, January 10, 2015.
Crow, Kelly. “The New Whitney Marks a Change in Museum Design.” The Wall Street Journal, April 9, 2015.
Goldstein, Andrew M. “How Arnold Lehman Transformed the Brooklyn Museum from a ‘Startup’ to a Cultural Juggernaut.” Artspace Magazine, April 4, 2015.
Goldstein, Andrew M. “Arnold Lehman on the Future of the Brooklyn Museum,” Artspace Magazine, April 6, 2015.
Sheets, Hilarie M. “Blurring the Museum-Gallery Divide.” The New York Times, June 18, 2015.
Vogel, Carol. “A Collector’s Personal Perspective.” The New York Times, October 12, 2014.
Vogel, Carol. “Like Half the National Gallery in Your Backyard.” The New York Times, April 18, 2013.
Chapter 19 Museum Exhibitions
Halperin, Julia. “Almost one third of solo shows in US museums go to artists represented by just five galleries.” The Art Newspaper, April 2, 2015.
Martinez, Alanna. “Art World Power Is All About Who You Know—And What Gallery You Show At.” New York Observer, April 3, 2015.
Chapter 20 Private Museums
Barnes, Brooks. “The Art Museum in Steve Tisch’s Backyard.” The New York Times, May 14, 2016.
Cooper, Andrew Scott. The Fall of Heaven: The Pahlavis and the Final Days of Imperial Iran. New York: Henry Holt and Co, 2016.
Chapter 21 The Most Influential Buyer
Pogrebin, Robin. “Qatari Riches Are Buying Art World Influence.” The New York Times, July 22, 2013.
Vogel, Carol. “Sheikha al-Mayassa bint Hamad bin Khalifa al-Thani of Qatar Museums.” The New York Times, December 26, 2013.
Chapter 22 Gaming the Art Bubble
Kazakina, Katya. “Art Flippers Chase Fresh Stars as Murillo’s Doodles Soar.” Bloomberg, February 7, 2014.
Postscript
Taubman, A. Alfred. Threshold Resistance: The Extraordinary Career of a Luxury Retailing Pioneer. New York: Harper Collins, 2007. This is Taubman’s memoir.
Index
All art is listed under artist. The locator INS indicates a colour photo in the insert section shown here.
Abu Dhabi, 189, 193
Acquavella, William, 29, 191
al-Thani, Sheikha al-Mayassa bint Hamad bin Khalifa (the Sheikha), 187, 192
Altmann, Maria, 113
Amazon, 153
Anderson, Maxwell, 170
Anfam, David, 106
Arnault, Bernard, 62, 129, INS
Arndt, Matthias, 85
Arsham, Daniel
Future Relic (film), 92
art
derivatives, 140, 142
and fashion, 129, 133
luxury branding, 15, 60, 133, 136, 211
movements, 132
status symbol of, 15, 20, 78, 87, 135
art advisers, 92, 143
conflicts of interest, 59, 89
new models, 88, 156
role, 13, 85
See also Art Agency, Partners; Cappellazzo, Amy
Art Agency, Partners (AAP), 58, 85, 88
Art Basel Fairs, 10, 84, 121, 132, 151, 158
art fairs, 13, 155, 176
artist exposure, 78
effect of 2008 recession, 198
online presence, 158
See also Art Basel Fairs; freeports
Art Genome Project algorithm, 158
art investing, 13, 50, 200
activist, 53
flipping, 24, 48, 86, 98, 199
freeport hypothetical example, 125
future outcomes exercises, 204
tools for, 86, 156
art market regulation, 139
art market, contemporary, 24, 149, 173
demographics, 66, 201
inner workings, 13, 14, 95, 157
middle market, 55
rationality of, 9
art market, economics, 14
anchoring, 202
bonuses and windfall gains, 37
bulk selling concerns, 24
endowment effect, 22, 69
estimating future demand, 206
impact of the Sheikha, 189
loss aversion, 177
market conditions, 203
market cycles, 9, 197, 200
network effects, 160
price bubbles, 13, 30, 38, 141, 197
price variables, 35, 80, 205
selection bias, 140
art online, 60
access to information, 149, 159
early adopters, 151
high-end disruptive sites, 156
Instagram, 159
peer-to-peer models, 153
reluctance to embrace, 150
art world, contemporary
information asymmetry, 87, 142, 202
insiders, 24, 36, 143, 200, 203
London v. New York, 73
sexism, 174
artists, 78
art of more, the, 12
dealer v. art agent, 84, 89
emerging, 13
high-end, 74, 97, 174
need for exposure, 77
price data, 101
production agents, 91
See also art online; ArtRank
ArtRank, 13, 156
Artsy, 157
ArtTactic, 13
ArtViatic, 157
auction houses, 69, 198
anchoring, 202
due diligence, 109
guarantee, 69, 140, 143, 201
nudge, 14, 28, 176, 201
online sales, 60
profit margins, 54
specialists, 38, 65, 140, 157
See also auctions; Christie’s; Phillips; Sotheby’s
auctions, 9, 13, 19
process, 21, 28, 55
Austrian government, 113
authentication, 35, 124, 157
authenticity repository, 144
due diligence, 55, 109
false provenance, 119
See also crimes and disputes
Axelrod, Maura
Maurizio Cattelan: The Movie, 92
Bacon, Francis
Three Studies of Lucian Freud, 27, INS
Two Figures Lying on a Bed With Attendants, 184
Barbizet, Patricia, 57
Bell, Bill, 50
Beshty, Walead, 156
Bonhams, 15
Bouvier, Yves, 89
Brant, Peter, 23, 182, 203
British Museum, 193
Broad, Edythe, 179
Broad, Eli, 21, 43, 49, 179
Broad, The (museum), 179
Brooklyn Museum, 164, 168
Brueghel the Elder, Jan
The Garden of Eden With the Fall of Man, 37
Bruins, Annelien, 85, 91
Cappellazzo, Amy, 38, 91, 151
formed AAP, 58, 83, 87
Centre Pompidou (Paris), 189
Cerutti, Guillaume, 57
Cézanne, Paul
Card Players, 190
Chanel, 130
mobile art, 135, INS
China, 63, 133, 136
art market crackdown, 199
freeports, 122, 124
new to art world, 57, 60, 66
Chinn, Adam, 88
Christie’s, 34, 119, 142, 153
advertising, 15
Apocalypse Now aucti
on (2013), 33
attracting clients, 65
Ganz Collection, 126
intelligence on clients, 68
Orange Balloon Dog auction (2013), 19
revenue, 55, 61
staffdepartures, 57, 60, 83, 86, 89
standout sales, 9
supporting museum exhibitions, 43
Three Studies auction (2013), 27
v. Sotheby’s, 54, 59, 60
Cohen, Lyor, 68
Cohen, Steven, 11, 85, 90, 185
collects Jeff Koons’ art, 21, 42, 43
reasons for bulk selling, 24
Connery Pissarro Seydoux, 87, 209
Connery, Stephane, 86
contemporary art market. See art market, contemporary
Cook Islands, 127
Coorte, Adriaen
Four Chestnuts (Still Life with Chestnuts), 116
Costantini, Anthony, 116
Creative Artists Agency, 92
crimes and disputes
Doig authentication case, 110
government-sanctioned seizures, 113
Knoedler fakes, 103
Paphos suit, 99
Popeye suit, 96
See also freeports; Panama Papers
Cuban government, 116
da Vinci, Leonardo
Mona Lisa, 205
The Last Supper, 205
The Virgin and Child with St. Anne, 205
Dahl, Roald, 74
Dallas Museum of Art (DMA), 170
Dannheisser, Elaine and Werner, 35
David Geffen Foundation, 11
David Zwirner gallery, 12, 50, 74, 78, 80
See also Zwirner, David
de Kooning, Willem
Interchange, 11
Woman III, 85, 185, INS
de la Torre, Manuel, 118
De Pury, 152
de Pury, Simon, 85, 129, 152
De Sole, Domenico, 106, 107
dealers, 37, 43, 150
brand and expansion, 76
conflicts of interest, 89