Want to know the story behind the headlines? Why does a work of art sell for an almost unimaginable amount of money? Why does an artwork (with no apparent aesthetic quality) become so desirable to a billionaire with no real interest in art? This book has the answers and is a great read. Expect more statistics and facts than aesthetics/theory, and expect to be informed and entertained. It also dispenses with quite a bit of the mystique – a relief, I thought. The author is an economist and professor of business, who also lectures on art. He spent a year immersing himself in the high-end art market, spending time with auction houses and dealers, watching and interviewing. There's lots of art world gossip/urban mythology, stories about dealers, famous collectors, the high-jinks, and what generally makes one of the most unregulated markets in the world perpetuate and reinvent itself. A perfect introduction to the would-be collector and a guide to the young artist for instant success (or not), although don't forget to factor in that the focus is London and New York.