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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 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
List of Illustrations xi Preface xiii Acknowledgments xix Notes on Sources xxi Introduction 1 Chapter 1: Video Art 26 Chapter 2: Experiential Art 87 Chapter 3: Art Investment Funds 143 Conclusion 188 Appendix A: Record Prices for Video Art at Auction, December 2009 215 Appendix B: The Film and Video Collections of Tate and the Whitney Museum of American Art 218 Appendix C: Art Investment Fund Universe 257 Notes 281 Selected Bibliography 331 Index 349
Noah Horowitz 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 managing 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. I appreciated his analysis of the markets for these practices, which is unusual in this sort of literature."--Thaddaeus Ropac, Art Newspaper