This highly readable and timely book explores the transformation of the modern and contemporary art market in the 21st century from a niche trade to a globalised operation worth an estimated $50 billion a year.Drawing on her personal experience, the author describes in fascinating detail the contributions made by a range of actors and institutions to these recent developments. The book focuses on the development of auction houses into globalised, often cutthroat 'art business' firms; the emergence and modi operandi of 'mega-dealers' and middlemen; the 'new frontier' of selling art on the internet; the radical changes in the profile of art collectors; the phemen of the 'branded' artist and the explosion of art fairs. It addresses the negative side to the art market's expansion, particularly its lack of transparency and light regulation. The author's engaging style makes this informative text ideal for collectors, students, and anyone interested in learning more about the evolution of the unprecedented market for art which exists today.
Georgina Adam is a journalist who has covered the global art market for the last 30 years. She writes a weekly column for the Financial Times and a fortnightly one for BBC WorldWide, as well as contributing to The Art Newspaper, where formerly she was Art Market Editor. She also lectures at Sotheby's Institute of Art and Christie's Education and participates in panels at art fairs in the UK and abroad.