Retelling and analyzing the curious, astonishing, and shocking details that reside so richly in the history of the creation and commercial success of the most famous and most expensive works of contemporary art, economist Donald Thompson crafts a narrative that holds you in suspense from the first page to the last, as gripping as any detective novel. But let's not rush to judgment—this is far from a banal collection of anecdotes from the everyday life of the bohemian elite. Thompson's book, according to critics, is one of the best studies of the contemporary art market. While captivating the reader with scandalous stories of high-profile sales, the author simultaneously reveals the very principles of the art business, usually hidden from the eyes of mere mortals. Thompson's book offers a unique insight into the world of auctions and art markets, dealers and gallery owners, artists whose fees reach seven figures and those just climbing the ladder—the world where art is born and where it acquires its price. Published in a new translation.