#x98;The#x9C; orange balloon dog bubbles, turmoil and avarice in the contemporary art market

"Really good. Highly recommended." Andrew Marr, Radio 4: Start the Week From the author of the internationally bestselling The $12 Million Stuffed Shark comes a fresh and provocative look at the high-end art market and whether it is a bubble about to burst. Within forty-eight hours in the autumn of 2014, buyers in the Sotheby's and Christie's New York auction houses spent $1.7 billion on contemporary art. Economist and bestselling author Don Thompson cites this and other fascinating examples to explore the sometimes baffling activities of the high-end contemporary art market, examining 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 analyses 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 fortunes are tied up in stainless steel balloon dogs – Thompson also warns of a looming bust of the contemporary art price balloon. A fascinating explanation, through the field of behavioural economics, for the phenomena that is behind the incredible value of contemporary art. 'Thought provoking.' Richard Morrison, The Times Within forty-eight hours in the autumn of 2014, buyers in the Sotheby's and Christie's New York auction houses spent $1.7 billion on contemporary art. In The Orange Balloon Dog, economist and bestselling author Don Thompson cites this 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 analyses 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 fortunes are tied up in stainless steel balloon dogs – Thompson also warns of a looming bust of the contemporary art price balloon. "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 more 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 analyzes 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."-