Dark Side of the Boom: The Excesses of the Art Market in the 21st Century

The book explores the excesses and extravagances of the 21st-century art market, including the buying of art as an investment, forgery and fraud, tax evasion, money laundering, and pressure to produce more art. It also examines the upheavals in auction houses and the impact of financial instruments on art transactions.

Format: Paperback / softback
Length: 232 pages
Publication date: 05 January 2018
Publisher: Lund Humphries Publishers Ltd

The book delves into the excesses and extravagances that emerged with the 21st-century explosion of the contemporary art market. It explores the trend of art being purchased as an investment, the allure of forgery and fraud, tax evasion, money laundering, and the pressure to produce an ever-increasing volume of art. The author conducts tenacious interviews with artists, collectors, lawyers, bankers, and convicted artist forgers, shedding light on the voracious commodification of artists and art objects. The book also examines art's place within the intricate web of global capital, highlighting its role in the clandestine world of the highest echelons.

Adam's revelations gain even more significance in the aftermath of the Panama Papers revelations, which shed light on the use of tax havens to conceal art transactions and ownership. With her captivating style, reminiscent of her bestselling Big Bucks: The Explosion of the Art Market in the 21st Century, Georgina Adam offers a judicious examination of a segment of the art market that captivates both art-world players and observers alike.

Weight: 446g
Dimension: 157 x 231 x 20 (mm)
ISBN-13: 9781848222205