Art of the Deal: Contemporary Art in a Global Financial Market [Hardcover]

Noah Horowitz (Author)

Book Description

Publication Date: January 3, 2011

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.

Editorial Reviews

Review

Art of the Deal is a crucial book on art and finance. (Blake Gopnik Daily Beast )

[T]he precision and lucidity with which Mr. Horowitz describes the commercialization of art should garner appeal for his book across a broad swath of market participants. For the rest of us, it is an enjoyable glimpse into the opaque corners of the art community. (Benjamin R. Mandel Journal of Cultural Economics )

Horowitz has provided readers with a very thorough and wide-ranging analysis of the contemporary art market that brings an unprecedented complexity to this discussion. His synthesis of the literature on the topic is sophisticated yet lucid and the book is exceptionally well researched, supported by countless citations. (John Zarobell Tabula Quarterly )

I thoroughly enjoyed this critical account of the global contemporary art economy; Noah Horowitz has a real understanding of the inner workings of the market. The fact that he chose to focus on video and experiential art renders his account unique and gives even the seasoned reader interesting insights. I appreciated his analysis of the markets for these practices, which is unusual in this sort of literature. (Thaddaeus Ropac Art Newspaper )

From the Inside Flap

"In recent decades, the world of contemporary art has developed into a global business. To fully grasp how this has changed the art world and our relationship to art, we need a thorough analysis of the financial forces involved. The best place to start is this groundbreaking study by Noah Horowitz, which, leaving the common chitchat about art and money to others, takes the discussion to a more fundamental level."--Daniel Birnbaum, director, Moderna Museet, Stockholm, and curator of the 2009 Venice Biennale

"Calmly, trenchantly, Horowitz examines the intricate relationship between the contemporary art market and the value of its objects. This book will prove indispensable to anyone who wants to know how the art market works and what tomorrow's art economy might look like."--Alexander Alberro, Barnard College, Columbia University

"Art of the Deal is cogently argued, thoroughly researched, and richly documented. It is also, to my knowledge, highly original, and not only in its subject matter--giving a textured financial analysis of contemporary art, in all its market manifestations--but in the rigor of its financial analysis. I don't know of another book like it in the field."--James Cuno, president and director, Art Institute of Chicago

"This book is extremely stimulating and thoroughly enjoyable. Horowitz brings deep insight to his analysis, and he weaves in beautiful historical examples. His discussion of front- and backroom business by dealers, loss leaders, and profit makers is telling. Think about the art world using his concepts. Your views will change."--Richard J. Zeckhauser, Frank P. Ramsey Professor of Political Economy, John F. Kennedy School of Government, Harvard University

See all Editorial Reviews

Product Details

• Hardcover: 384 pages
• Publisher: Princeton University Press; First Edition edition (January 3, 2011)
• Language: English
• ISBN-10: 0691148325
• ISBN-13: 978-0691148328
• Product Dimensions: 6 x 1.3 x 9 inches
• Shipping Weight: 2.1 pounds (View shipping rates and policies)
• Average Customer Review: 4.3 out of 5 stars  See all reviews (6 customer reviews)
• Amazon Best Sellers Rank: #301,625 in Books (See Top 100 in Books)
  • #70 in Books > Politics & Social Sciences > Social Sciences > Museum Studies & Museology

More About the Author

Noah Horowitz is an art historian and expert on the international art market. He has edited and contributed to publications on contemporary art and economics for institutions including the Serpentine Gallery, London; the Astrup Fearnley Museum of Modern Art, Oslo; and the United Kingdom's Intellectual Property Office. He received his PhD from the Courtauld Institute of Art, London, and currently lives in New York, where he is a member of the faculty of the Sotheby's Institute of Art and director of the VIP Art Fair.

Most Helpful Customer Reviews

2 of 2 people found the following review helpful

5.0 out of 5 stars Great read August 8, 2012

By RJP

Format:Hardcover

An accessible, informative and highly enjoyable read. It's a great look at the conteporary art market with enough story-telling and background that I felt like an insider by the end, despite being just a casual art observor. I received as a gift and it's been a hit for everyone I've done the same for.

1 of 1 people found the following review helpful

5.0 out of 5 stars Excellent Read! August 16, 2012

By Arod1987

Format:Hardcover

Noah Horowitz is a brilliant scholar of the art market. His incisive commentary and keen understanding of what appears to be a largely unregulated market with a labyrinth-like structure makes this an excellent read! I can't recommend it enough.

1 of 1 people found the following review helpful

5.0 out of 5 stars A long overdue book on understanding the art market October 26, 2011

By catsor

Format:Hardcover

Art of the Deal is an inspiring excavation of the many building blocks of the art market, weaving a succinct walkthrough of art historical insights with clever perspectives on contemporary practice. I finished the book astonished that something similar had not been written long ago--after all we live in a world where understanding market behaviour is no longer desirable but a must! Although the book cannot be said to be easy reading to the layman reader, testing our understanding of both cutting-edge art historical theories and complex financial factors, it is nonetheless a highly enjoyable read. I especially found myself amused when reading the chapter on experiential art: Indeed, how does one price an art work consisting of the artist cooking a meal and leaving the messy kitchen behind!? Having read Noah Horowitz' book, I can now say that I better understand the Art of the Deal!