The Orange Balloon Dog
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35 Emmanuel Perrotin, quoted in Nicolai Hartvig, “Art Basel Opens in Time of Turbulence for Dealers,” The New York Times, June 11, 2013, http://www.nytimes.com/2013/06/12/arts/Art-Basel-Opens-in-Time-of-Turbulence-for-Dealers.html?_r=1.
36 Sean Scully, quoted in Deborah Solomon, “Becoming Modern: The Met’s Mission at the Breuer Building,” The New York Times, November 25, 2015, http://www.nytimes.com/2015/11/29/arts/design/becoming-modern-the-mets-mission-at-the-breuer-building.html?_r=0.
37 Nate Freeman, “Christie’s ‘Artist Muse’ Sale Nets $491.4 M., Led by a $170.4 M. Modigliani, the Second-Highest Price Ever Realized at Auction,” ArtNews, November 9, 2015, http://www.artnews.com/2015/11/09/christies-artist-muse-sale-nets-491-4-m-led-by-a-170-4-m-modigliani-the-second-highest-price-ever-realized-at-auction/.
Chapter 10 The Art Adviser
38 Adam Lindemann, quoted in Henri Neuendorf, “Art Demystified: What Is The Role of Art Advisors?” artnet News, August 11, 2016, https://news.artnet.com/art-world/art-demystified-role-of-advisors-596927.
39 Amy Cappellazzo, quoted in Adrienne Gaffney, “Amy Cappellazzo,” Wall Street Journal, November 29, 2012, http://www.wsj.com/articles/SB10001424127887324894104578115181650750570.
40 Amy Cappellazzo, quoted in Dodie Kazanjian, “What Does Amy Cappellazzo’s Move from Christie’s Say about the Changing Face of the Art Market?,” Vogue, March 7, 2014, http://www.vogue.com/865154/amy-cappellazzo-leaves-christies-contemporary-art-market/.
41 Cappellazzo, quoted in Kazanjian, “Amy Cappellazzo’s Move from Christie’s.”
42 Ibid.
43 Ibid.
44 Ibid.
45 Annelien Bruins, quoted in Andrew M. Goldstein, “Art Advisor Annelien Bruins on the Realities of Art Investment,” Artspace, February 12, 2014, http://www.artspace.com/magazine/interviews_features/expert_eye/art_advisor_annelien_bruins-52046.
46 Sandy Heller, quoted in Carol Vogel, “Landmark De Kooning Crowns Collection,” The New York Times, November 18, 2006, http://www.nytimes.com/2006/11/18/arts/design/18pain.html.
47 Donald B. Marron, quoted in Robin Pogrebin and Graham Bowley, “Soaring Art Market Attracts a New Breed of Advisers for Collectors,” The New York Times, August 22, 2015, http://www.nytimes.com/2015/08/23/arts/design/soaring-art-market-attracts-a-new-breed-of-advisers-for-collectors.html.
48 Bruins, quoted in Goldstein, “Art Advisor Annelien Bruins.”
49 Pogrebin and Bowley, “Soaring Art Market.”
50 Joshua Roth, quoted in Melena Ryzik, “Joshua Roth Takes United Talent Agency into the Art World,” The New York Times, September 13, 2015, http://www.nytimes.com/2015/09/14/arts/design/joshua-roth-takes-united-talent-agency-into-the-art-world.html.
Chapter 11 Perelman v. Gagosian
51 Fleischman Law Firm, MAFG Art Fund LLC, and MacAndrews & Forbes Group LLC v Larry Gagosian and Gagosian Gallery, Inc., Index No. 653189/2012 (New York County: Supreme Court of the State of New York, September 12, 2012), 8, http://hyperallergic.com/wp-content/uploads/2014/02/MAFG-Art-Fund-LLC-v.-Gagosian.pdf.
52 Barbara R. Kapnick, MAFG Art Fund, LLC V Gagosian, 2014 NY Slip op 30321 (U) (New York: Supreme Court of the State of New York, February 3, 2014), 28, http://www.courts.state.ny.us/reporter//pdfs/2014/2014_30321.pdf.
53 Ronald Perelman’s lawyers, quoted in Robert Frank, “The Feud That’s Shaking Gallery Walls,” The New York Times, October 18, 2014, http://www.nytimes.com/2014/10/19/business/the-feud-thats-shaking-gallery-walls.html.
54 Kapnick, MAFG Art Fund, LLC V Gagosian, 26.
55 Ibid., 19.
56 David Friedman, quoted in Chris Dolmetsch, “N.Y. Art Gallery Owner Gagosian Wins End to Perelman Suit,” Bloomberg, December 4, 2014, http://www.bloomberg.com/news/articles/2014-12-04/n-y-art-gallery-owner-gagosian-wins-end-to-perelman-suit.
Chapter 12 The Knoedler Fakes
57 Thomas Hoving, False Impressions: The Hunt for Big-Time Art Fakes (New York, NY: Simon & Schuster, 1996), 17.
58 Glafira Rosales, quoted in William K. Rashbaum and Patricia Cohen, “Art Dealer Admits to Role in Fraud,” The New York Times, September 16, 2013, http://www.nytimes.com/2013/09/17/arts/design/art-dealer-admits-role-in-selling-fake-works.html.
59 John Howard, quoted in Bloomberg, “The Other Side of an $80 Million Art Fraud: A Master Forger Speaks.” December 19, 2013, http://www.bloomberg.com/news/articles/2013-12-19/the-other-side-of-an-80-million-art-fraud-a-master-forger-speaks.
60 Peter Stern, quoted in Laura Gilbert, “Knoedler Cases Focus on Due Diligence,” The Art Newspaper, November 1, 2014, http://theartnewspaper.com/news/news/knoedler-cases-focus-on-due-diligence/.
61 Ann Freedman, quoted in Laura Gilbert, “‘Document Dump’ Reveals New Details in Knoedler Case,” The Art Newspaper, October 8, 2014, http://old.theartnewspaper.com/articles/Document-dump-reveals-new-details-in-Knoedler-case/35881.
62 Helen Frankenthaler, quoted in Laura Gilbert and Bill Glass, “Former Director of Scandal-Beset Knoedler Gallery Breaks Her Silence,” The Art Newspaper, April 18, 2016, http://theartnewspaper.com/news/former-director-of-scandal-beset-knoedler-gallery-breaks-her-silence/.
63 Domenico and Eleanore De Sole, quoted in Laura Gilbert, “Lawyers Battle to Tip Balance of Evidence Before Knoedler Trial,” The Art Newspaper, December 21, 2015, http://theartnewspaper.com/news/lawyers-battle-to-tip-balance-of-evidence-before-knoedler-trial/.
64 Jack Flam, quoted in M H Miller, “In Court, Experts Say Knoedler Ignored Warnings about Forgeries,” Art News, February 5, 2016, http://www.artnews.com/2016/02/05/in-court-experts-say-knoedler-ignored-warnings-about-forgeries/.
65 Milton Esterow, “Fakers, Fakes, & Fake Fakers,” ArtNews, November 20, 2013, http://www.artnews.com/2013/11/20/fakers-fakes-fake-fakers/.
66 Richard Feigen, quoted in Laura Gilbert, “Have Multi-Million-Dollar Forgery Scandals Changed the Art Market for Good?,” Artsy, October 19, 2015, https://www.artsy.net/article/artsy-editorial-have-multi-million-dollar-forgery-scandals-changed-the.
67 Gary Feinerman, quoted in Dan Duray, “Chicago Judge Rules Peter Doig ‘absolutely did not paint’ Disputed Work,” The Art Newspaper, August 23, 2016, http://theartnewspaper.com/news/judge-rules-peter-doig-absolutely-did-not-paint-disputed-work/.
Chapter 13 Government-Plundered Art
68 T. Jefferson, “Glenn Beck: Does Congress Matter?,” Glenn Beck, September 18, 2009, http://www.glennbeck.com/content/articles/article/198/30765/?utm_source=glennbeck&utm_medium=contentcopy_link.
69 Anthony J. Costantini, quoted in Tom Mashberg, “A Son Seeks Art Looted by the East Germans,” The New York Times, November 27, 2014, http://www.nytimes.com/2014/11/28/arts/international/stasi-art-seizure-leads-to-court-case-involving-new-yorkers.html.
Chapter 14 Freeports and Tax Ploys
70 Nicholas Brett, quoted in David Segal, “Swiss Freeports Are Home for a Growing Treasury of Art,” The New York Times, July 21, 2012, http://www.nytimes.com/2012/07/22/business/swiss-freeports-are-home-for-a-growing-treasury-of-art.html.
71 Nick Paumgarten, “Dealer’s Hand: Why Are so Many People Paying so Much Money for Art? Ask David Zwirner,” The New Yorker, December 2, 2013, http://www.newyorker.com/magazine/2013/12/02/dealers-hand.
72 Rybolovlev family trust, quoted in Eileen Kinsella, “Rybolovlev Denies ‘Panama Papers’ Allegations,” artnet News, April 6, 2016, https://news.artnet.com/exhibitions/billionaire-collector-dmitry-rybolovlev-denies-panama-papers-allegations-466880.
Chapter 15 The Uneasy Marriage of Art + Fashion
73 Nicolai Ouroussoff, “Art and Commerce Canoodling in Central Park,” The New York Times, October 20, 2008, http://www.nytimes.com/2008/10/21/arts/design/21zaha.html.
74 Mitchell Oakley Smith, quoted in Alice Gregory, “Art and Fashion: The Mutual Appreciation Society,” Wall Street Journal, March 28, 2014, http://www.wsj.com/articles/SB10001424052702303725404579459503054211692.
75 Ruth La Ferla, “The Artist’s Fall Collection,” The New York Times, November 8, 2007, http://www.n
ytimes.com/2007/11/08/fashion/08ART.html.
76 Takashi Murakami, quoted in Jeff Howe, “The Two Faces of Takashi Murakami,” WIRED, November 1, 2003, https://www.wired.com/2003/11/artist/.
77 Damien Hirst, quoted in Andrew Rice, “Damien Hirst: Jumping the Shark,” Bloomberg, November 21, 2012, http://www.bloomberg.com/news/articles/2012-11-21/damien-hirst-jumping-the-shark.
78 Oscar de la Renta: The Retrospective,” de Young Fine Arts Museum of San Francisco, April 14, 2016, https://deyoung.famsf.org/exhibitions/oscar-de-la-renta-retrospective.
79 Jason Farago, “Thom Browne’s Shoes: High Fashion and High Art,” The New York Times, March 17, 2016, http://www.nytimes.com/2016/03/18/arts/design/thom-brownes-shoes-high-fashion-and-high-art.html.
Chapter 16 Art Market Regulation
80 Martin Roth, quoted in John Gapper, “Art World’s Shady Dealings Under Scrutiny at Davos,” Financial Times, January 22, 2015, https://www.ft.com/content/620cbf76-5125-300e-93e7-3448c1197ead.
81 John Gapper and Peter Aspden, “Davos 2015: Nouriel Roubini Says Art Market Needs Regulation,” Financial Times, January 22, 2015, https://www.ft.com/content/992dcf86-a250-11e4-aba2-00144feab7de.
Chapter 17 Art in an Uber World
82 Tim Goodman, quoted in Jenny White, “Canny Savings: How Fine Art Bourse Does It,” Private Art Investor, July 7, 2015, http://www.privateartinvestor.com/art-business/canny-savings-how-fine-art-bourse-does-it/.
83 Carlos Rivera, quoted in Edward Helmore, “Buy! Sell! Liquidate! How ArtRank Is Shaking Up the Art Market,” The Guardian, June 23, 2014, https://www.theguardian.com/artanddesign/2014/jun/23/artrank-buy-sell-liquidate-art-market-website-artists-commodities.
Chapter 18 Not Your Father’s Museum
84 Thomas Campbell, quoted in “The Met Vs. MOMA: Bob Colacello Uncovers The Battle For Art, Prestige, And Young Trustee Blood,” Vanity Fair, January 2015, http://www.vanityfair.com/culture/2015/01/met-moma-art-museum-war.
85 Thomas Campbell, quoted in Carol Vogel, “Met’s First Plans for the Whitney’s Old Home,” The New York Times, November 13, 2014, http://www.nytimes.com/2014/11/14/arts/design/mets-first-plans-for-the-whitneys-old-home.html.
86 Thomas Campbell, quoted in Calvin Tomkins, “The Met and the Now: America’s Preëminent Museum Finally Embraces Contemporary Art.,” The New Yorker, January 25, 2016, http://www.newyorker.com/magazine/2016/01/25/the-met-and-the-now.
87 Andrew M. Goldstein, “How Arnold Lehman Transformed the Brooklyn Museum from a ‘Startup’ to a Cultural Juggernaut,” Artspace, April 4, 2015, http://www.artspace.com/magazine/interviews_features/expert_eye/arnold-lehman-interview-part-1-52730.
88 Arnold Lehman, quoted in Andrew M. Goldstein, “Arnold Lehman on the Future of the Brooklyn Museum,” Artspace, April 6, 2015, http://www.artspace.com/magazine/interviews_features/expert_eye/arnold-lehman-interview-part-2-52716.
89 Jeffrey Deitch, quoted in Jerry Saltz, “The New New Museum: How the Whitney Might Just Solve the Impossible Problem of Contemporary Art,” Vulture, April 19, 2015, http://www.vulture.com/2015/04/jerry-saltz-on-new-whitney-museum.html.
90 Arnold Lehman, quoted in Jillian Steinhauer, “On Leaving the Brooklyn Museum After 17 Years: An Interview with Arnold Lehman,” Hyperallergic, April 13, 2015, http://hyperallergic.com/198257/on-leaving-the-brooklyn-museum-after-17-years-an-interview-with-arnold-lehman/.
Chapter 19 Museum Exhibitions
91 Helen Molesworth, quoted in Julia Halperin, “Almost One Third of Solo Shows in US Museums Go to Artists Represented by Just Five Galleries,” The Art Newspaper, April 2, 2015, http://old.theartnewspaper.com/articles/Almost-one-third-of-solo-shows-in-US-museums-go-to-artists-represented-by-just-five-galleries/37402.
92 Michael Plummer, quoted in Gareth Harris and Anny Shaw, “Who’s Bankrolling the Venice Biennale?,” The Art Newspaper, May 7, 2015, http://theartnewspaper.com/reports/who-s-shoring-up-venice/.
93 A spokeswoman for the British Council, quoted in Harris and Shaw, “Who’s Bankrolling the Venice Biennale?”
94 Robert Storr, quoted in Halperin, “Artists Represented by Just Five Galleries.”
95 William Powhida, “Artistic Success in America Means Wearing the Right Old School Tie,” The Art Newspaper, April 30, 2015, http://theartnewspaper.com/comment/comment/artistic-success-means-wearing-the-right-old-school-tie/.
96 Deborah Sontag and Robin Pogrebin, “Some Object as Museum Shows Its Trustee’s Art,” The New York Times, November 10, 2009, http://www.nytimes.com/2009/11/11/arts/design/11museum.html.
97 Sontag and Pogrebin, “Some Object as Museum Shows Its Trustee’s Art.”
98 Jerry Saltz, “Less Than the Sum of Its Parts,” New York Magazine, March 26, 2010, http://nymag.com/arts/art/reviews/65115/.
Chapter 20 Private Museums
99 Nick Paumgarten, “Dealer’s Hand,” The New Yorker, December 2, 2013, http://www.newyorker.com/magazine/2013/12/02/dealers-hand.
100 J. Paul Getty Trust, Trust Indenture (Los Angeles, 2006), http://www.getty.edu/about/governance/pdfs/indenture.pdf.
Chapter 21 The Most Influential Buyer
101 Sheikha al-Mayassa bint Hamad bin Khalifa al-Thani, quoted in John Arlidge, “Forget about the Price Tag: Qatar’s Sheikha Mayassa Is Outbidding the Art World,” ES Magazine (Evening Standard), October 4, 2013, http://www.standard.co.uk/lifestyle/esmagazine/forget-about-the-price-tag-qatars-sheikha-mayassa-is-outbidding-the-art-world-8856384.html.
102 Takashi Murakami, “The World’s 100 Most Influential People: Sheika Al-Mayassa Bint Hamad Bin Khalifa Al-Thani,” TIME, April 23, 2014, http://time.com/70911/sheika-al-mayassa-2014-time-100/.
103 Lorena Muñoz-Alonso, “Fondazione Sandretto Re Rebaudengo Celebrates StellaRe Award and 20th Anniversary with Star-Studded Gala,” artnet News, May 6, 2015, https://news.artnet.com/art-world/fondazione-sandretto-re-rebaudengo-celebrates-stellare-award-and-20th-anniversary-with-star-studded-gala-294743.
104 Susan Hack, “Qatar’s Billion-Dollar Art Collection Causes Controversy,” Bloomberg, October 2, 2014, https://www.bloomberg.com/news/articles/2014-10-02/qatar-s-billion-dollar-art-collection-causes-controversy.
105 Sheikha al-Mayassa, quoted in Arlidge, “Forget about the Price Tag.”
106 Hack, “Qatar’s Billion-Dollar Art Collection Causes Controversy.”
Chapter 22 Gaming the Art Bubble
107 Robert Hughes, Nothing if Not Critical (New York: Penguin Books, 1990), 237.
108 Daniel Kahneman and Gary Klein, “Strategic Decisions: When Can You Trust Your Gut?,” McKinsey Quarterly (McKinsey & Company), March 2010, http://www.mckinsey.com/business-functions/strategy-and-corporate-finance/our-insights/strategic-decisions-when-can-you-trust-your-gut.
109 Tobias Meyer, quoted in Ingrid Sischy, “Money on the Wall,” Vanity Fair, December 2006, http://www.vanityfair.com/culture/2006/12/jeffrey-deitch-200612.
110 Amy Cappellazzo, quoted in Dodie Kazanjian, “What Does Amy Cappellazzo’s Move from Christie’s Say about the Changing Face of the Art Market?,” Vogue, March 7, 2014, http://www.vogue.com/865154/amy-cappellazzo-leaves-christies-contemporary-art-market/.
Postscript
111 Tim Harford, “The Pillars of Tax Wisdom,” Financial Times, November 20, 2015, https://www.ft.com/content/4fee3138-8d6b-11e5-a549-b89a1dfede9b.
112 Alfred Taubman, quoted in Anthony Calnek, “A. Alfred Taubman: The Visionary Collector Who Transformed the Art Market on Sotheby’s Blog,” Sotheby’s, October 1, 2015, http://www.sothebys.com/en/news-video/blogs/all-blogs/the-collection-of-a-alfred-taubman/2015/10/a-alfred-taubman-visionary-collector-art-market.html.
More Reading
For those with interest in individual chapter subjects, the list below has additional material that I have found of interest. These are not references keyed to text material, although many are referred to in the text.
Chapter 1 High School with Money
Akerlof, George A. and Robert J. Shiller. Phishing for Phools: The Economics of Manipulation and
Deception. Princeton: Princeton University Press, 2015. Akerlof and Shiller are both Nobel Prize economists. The book argues that as long as there is profit to be made, sellers will exploit our psychological weaknesses through manipulation and deception. Rather than being benign, markets are filled with tricks and traps and will “phish” us as “phools.”
Jones II, Paul Tudor. “Why We Need to Rethink Capitalism.” TED2015, March 2015. https://www.ted.com/talks/paul_tudor_jones_ii_why_we_need_to_rethink_capitalism?language=en.
Piketty, Thomas. Capital in the Twenty-First Century. Paris: Éditions du Seuil, 2013 and Cambridge MA: The Belknap Press of Harvard University Press, 2014.
Thaler, Richard H. Misbehaving: The Making of Behavioral Economics. New York: W.W. Norton, 2015.
Thaler, Richard H. “Unless You Are Spock, Irrelevant Things Matter in Economic Behavior.” The New York Times, May 12, 2015.
Thaler, Richard H. and Cass R. Sunstein. Nudge: Improving Decisions About Health, Wealth, and Happiness. New York: Penguin Books, 2009.
Velthuis, Olav and Stefano Baia Curioni (eds). Cosmopolitan Canvases: The Globalization of Markets for Contemporary Art. Oxford; New York: Oxford University Press, 2015. This is a series of academic studies which challenge assumptions about the art market, notably about the degree of globalization.
Chapter 2 The Orange Balloon Dog