Art today is defined by its relationship to money as never before. Prices have been driven to unprecedented heights, conventional boundaries within the art world have collapsed, and artists think ever more strategically about how to advance their careers. Art is no longer simply made, but packaged, sold, and branded. In Art of the Deal, 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.
In a new postscript, Horowitz reflects on the evolution of the trade since the book’s original release in 2011, shining light on the market’s continued ascent as well as its most urgent challenges.
Noah Horowitz holds a PhD in art history from the Courtauld Institute of Art, London. He currently lives in New York, where he is a member of the faculty of the Sotheby's Institute of Art and executive director of The Armory Show.
"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."--Thaddaeus Ropac, Art Newspaper
"One welcome aspect of the book is that its avoids to a degree but not entirely the usual cast and plot lines because of its focus on the relative undermined areas on 'immaterial' art genres in the first two essays. The book's discussion of video and experiential art is interesting. The discussion of the minutiae of this world of performances, installations, action and social interaction and their ancillary elements, content ownership and the rise of the collector's box will add greatly to the reader's ability to appear learned on a suitable social occasion."--Satyajit Das, naked capitalism
Table of Contents:
List of Illustrations xi
Notes on Sources xxi
Chapter 1: Video Art 26
Chapter 2: Experiential Art 87
Chapter 3: Art Investment Funds 143
Postscript to the Paperback Edition 215
Appendix A: Record Prices for Video Art at Auction, December 2009 229
Appendix B: The Film and Video Collections of Tate and the Whitney Museum of American Art 232
Appendix C: Art Investment Fund Universe 271
Selected Bibliography 347