Books on Art and Business

Art and business.

For some, there is a tension between the two worlds. An artist focussed on the creative endeavour may feel conflicted about selling a piece of work they’ve put their heart and soul into.

But if you want to pursue art full-time then you need to make money to support yourself.

In 2012/13 Life:Full Colour founder, Sara McKee, undertook a Christie’s Education lecture series led by James Goodwin.

As part of her course work, Sara read a number of books on art and business and she’s put together her top 10 list here:

The $12 Million Stuffed Shark: The Curious Economics of Contemporary Art by Don Thompson 

Why would a smart New York investment banker pay twelve million dollars for the decaying, stuffed carcass of a shark?  This book looks at the economics of the modern art world, and the marketing strategies that power the market to produce astronomical prices.

The $12 Million Stuffed Shark is available on Amazon here.

Seven Days in the Art World by Sarah Thornton

Contemporary art has become a mass entertainment, a luxury good, a job description and, for some, a kind of alternative religion. Sarah Thornton’s shrewd and entertaining fly-on-the-wall narrative takes us behind the scenes of the art world, from art school to auction house, showing us how it works, and giving us a vivid sense of being there.

Seven Days in the Art World is available on Amazon here.

The Worth of Art: Pricing the Priceless Paperback by Judith Benhamou-Huet 

In the art market, the value of a work has never been as relative as it is today. An intense marketing system has been established that makes the price of an item dependent not just on its quality but also on the identity of the seller and the buyer and even on the location of the sale. 

The Worth of Art is available on Amazon here.

Museum Marketing and Strategy: Designing Missions, Building Audiences, Generating Revenue and Resources by Neil G. Kotler, Philip Kotler, Wendy I. Kotler

An updated edition of the classic resource on museum marketing and strategy provides a proven framework for examining marketing and strategic goals in relation to a museum’s mission, resources, opportunities, and challenges. Museum Marketing and Strategy examines the full range of marketing techniques and includes the most current information on positioning, branding, and e-marketing.

Museum Marketing and Strategy is available on Amazon here.

Fine Art and High Finance: Expert Advice on the Economics of Ownership by Clare McAndrew

Art and finance coalesce in the elite world of fine art collecting and investing. Investors and collectors can’t protect and profit from their collections without grappling with a range of complex issues like risk, insurance, restoration, and conservation. They require intimate knowledge not only of art but also of finance.

Fine Art and High Finance is available on Amazon here.

Talking Prices: Symbolic Meanings of Prices on the Market for Contemporary Art by Olav Velthuis 

How do dealers price contemporary art in a world where objective criteria seem absent? On the basis of a wide range of qualitative and quantitative data, including interviews with art dealers in New York and Amsterdam, Olav Velthuis shows how contemporary art galleries juggle the contradictory logics of art and economics.

Talking Prices is available on Amazon here.

Art Market Research: A Guide to Methods and Sources by Tom McNulty  

This book is intended as a reference guide for art market researchers at all levels. A brief overview of the global art market and its major stakeholders precedes an analysis of the various sales venues (auction, commercial gallery, etc.) where art is bought and sold. 

Art Market Research is available on Amazon here.

The Art Business by Iain Robertson

Drawing on the vast experience of Sotheby’s Institute of Art, The Art Business exposes the realities of the commercial trade in fine art and antiques. This book provides a thorough examination of contemporary issues in the art business, and the mechanisms and influences which underpin its evolution.

The Art Business is available on Amazon here.