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The Value of Art: Money, Power, Beauty

The Value of Art: Money, Power, Beauty 下载

Michael Findlay (Author)

Paperback: 208 pages
Publisher: Prestel USA; Revised edition (April 25, 2014)
Language: English

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What is art worth? How can a work by Warhol be sold for more than $100,000,000? This critically acclaimed book, newly revised, updated, and generously illustrated throughout, explains the market for art―and art’s value for all of us.

In The Value of Art, internationally renowned art dealer and market expert Michael Findlay offers a lively and authoritative tour of the art world informed by almost a half-century in the business and a passion for great art. With style and wry wit, Findlay explores how art acquires value―both commercial and social―and how these values circulate among the artists, dealers, and collectors that comprise today’s complex and constantly evolving art world. In the process he demystifies how art is bought and sold while also constantly looking beyond sales figures to emphasize the primacy of art’s essential, noncommercial worth. Coloring his account with wise advice, insider anecdotes involving scoundrels and scams, stories of celebrity collectors, and remarkable discoveries, Findlay has distilled a lifetime’s experience in this indispensible guide for today’s art lover.

The Value of Art: Money, Power, Beauty 下载

Editor opinion


“Michael Findlay has written an authoritative guide to the art world in the age of celebrity. The Value of Art is an engaging, informative and serious book.”

-Judith Goldman, author of Robert & Ethel Scull: Portrait of a Collection

“Whether you are a beginning collector or seasoned connoisseur, Michael Findlay is the finest guide you could have to the current art world. His decades of experience, devilish wit, and infectious enthusiasm for the best always steer the reader straight through the mercenary machinations of the business, social whirl, and profound beauty of art.”

-Michael Fitzgerald, Professor of Fine Arts, Trinity College

“No one knows more about the market in Impressionist, modern, and contemporary art than Findlay. His new book, The Value of Art, is one of the best ever published on the art world, and covers just about everything you would want to know, including how to buy, sell, look at, and enjoy art.”


“Findlay passes along his own, entertaining view of the art world’s evolution over the past few decades….{He} champions the essential, intrinsic value of art – a subject he addresses with passion.”

-The Wall Street Journal

“Findlay’s The Value of Art…offers a wealth of knowledge (and gossip) about a life spent in the business of beautiful things.”

-Out Magazine

"This perceptive and incisive book by a legendary dealer is the best guide to the present day art world ever written. It is also a deeply felt plea that people look at and enjoy art rather than concentrate solely on its commercial value."

-Andrew Butterfield, President of Andrew Butterfield Fine Arts

The Value of Art is, above all, an elegantly argued plea to art lovers to never stop looking – and to never believe that a world has revealed all of its secrets.”

-Art + Auction magazine

“Essential reading. Comprehensive, insightful, and rooted in the author’s decades of experience as an art dealer, auction house expert, and connoisseur of both artists and collectors, the text is enlivened by a wealth of instructive and entertaining anecdotes.”

-Christopher Finch, author of Chuck Close: Life

"Findlay explains what determines the value of art, approaching the topic from both the commercial and social perspective whilst also exploring how the various art world stakeholders―from artists and dealers to collectors and institutions―operate within the increasingly complex art world. Insider anecdotes, advice, and other entertaining tidbits make this a great read, offering a thoughtful account of the art market for art world outsiders and insiders alike."

—Henri Neuendorf, Artnet

About the Author

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The Value of Art: Money, Power, Beauty 下载

The Value of Art: Money, Power, Beauty 下载

user review


Findlay explains that the market value of a work of art is based on five attributes: provenance, condition, authenticity, exposure, and quality. A key message is that art collectors should buy what they like to look at. Any potential increase in market value is speculation.




Findlay points out that auction prices are not a reliable indicator of market value; "an auction result actually represents a unique set of circumstances at a specific point in time." He cites an example of two similar Picasso pieces sold at auction within months of each other. The first sold for close to $6 million, but the second sold for $1 million less. The author speculates that two collectors were bidding in the first auction, but there was only one buyer left in the second auction, so he purchased for close to the reserve price.



A useful guide to a rare and obscure territory to most of us; the grounds--principally, located in New York City and London--where the commercial exchange of expensive fine art takes place.


He explains that the market is cyclical, and people who view art purely as an investment appear when the market is hot. "There is an adage among old hands in the art world that the emergence of art investment funds signals that a boom is over." He points out that more than half of the art market is transacted in private sales. While art funds, art indexes, and art economists claim to analyze the market data, only the auction results are publicly available. "How can one measure and consequently predict activity in a market 52 percent of which is essentially invisible? ... I have little faith in crystal balls disguised as charts."


A good read for art appreciation. What will last and what won't hold through the test of time while our world changes at warp speed? Art is necessary to lives well lived yet as Warhol said, (didn't he?) "The business of art is money?" How to navigate and not be confused by the razzle dazzle? I enjoyed the bits of wisdom and experience scattered throughout.@@@@


Art collectors like to talk about the circumstances of acquiring their art. "When it comes to contemporary art, direct contact with the artist often adds to the price of the work and is of course a social experience with memorable dinner-table conversation value for the buyer."

The Value of Art: Money, Power, Beauty 下载

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