The Orange Balloon Dog
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. In The Orange Balloon Dog, economist and bestselling author Don Thompson cites 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 expertly 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.