Art Market
Maxwell Rabb
How does one understand the art world? Both shrouded in mystery and high in profile, the art industry—and the characters that populate it—has long been a source of fascination for those outside it.
For collectors, the art world can be an amorphous thing: With its storied history and different movements, periods, and people, it can be hard to gain a rounded understanding of what it’s all about. It’s with this in mind that Artsy consulted 14 leading industry figures, from Larry Gagosian to Almine Rech, to help compile this reading list for collectors, new and experienced.
Each book chosen offers different insights and reflections, from the role of dealers in the contemporary art market to the motivations of artists both inside and outside the mainstream. All have been chosen with one thing in mind: What every collector should read to get to grips with the art industry and the different worlds within it.
Picasso’s War: How Modern Art Came to America, 2022
Author: Hugh Eakin
Recommended by Larry Gagosian, founder of Gagosian
Cover of Picasso’s War: How Modern Art Came to America, 2022. Courtesy of Crown | Penguin Random House.
Larry Gagosian recommended Hugh Eakin’s Picasso’s War: How Modern Art Came to America. The book chronicles how John Quinn, an Irish American lawyer, had a profound influence on the early 20th-century art world in America, particularly through his collection of works by Pablo Picasso.
“Quinn not only built a remarkable collection but was instrumental in promoting Picasso to museum directors and other collectors in America,” said Gagosian. “He was helpful in arranging Picasso’s first U.S. retrospective at the Wadsworth Atheneum, and inspired Alfred Barr and the Museum of Modern Art to collect the artist in depth.”
He added: “I think one of the most important takeaways for a collector is that Quinn’s journey ran against the grain of checking off boxes—for instance, ‘I need two Picassos, two Rothkos, one Giacometti to build a superior collection.’”
Gagosian affirms that Quinn’s dedication to art collecting offers a critical lesson: “Quinn’s experience demonstrated, as well as any collector I have come to learn about, that when you’re collecting a master, you can never own too many.”
Making Modernism: Picasso and the Creation of the Market for Twentieth-Century Art, 1995
Author: Michael C. Fitzgerald
Recommended by Almine Rech, founder of Almine Rech
Cover of Modernism: Picasso and the Creation of the Market for Twentieth-Century Art, 1995.
Storied Parisian gallerist Almine Rech recommended Making Modernism: Picasso and the Creation of the Market for Twentieth-Century Art by Michael C. Fitzgerald. The book explores the ways Picasso managed to build his career through his relationship with his dealers like Paul Rosenberg and Georges Wildenstein, culminating in his celebrated 1939 retrospective at the Museum of Modern Art in New York.
For Rech, the book provides a foundation for collectors trying to understand the art world, particularly the secondary market.
“A reader will understand how auction results were from the early 20th century, which is an important and informative way to establish values,” said Rech. “One will also understand the importance of the dealer in the equation and their strategy in making a good artist become internationally renowned.”
Tell Them I Said No, 2016
Author: Martin Herbert
Recommended by Anat Ebgi, founder of Anat Ebgi
Cover of Tell Them I Said No, 2016. Courtesy of Sternberg Press.
Sometimes, understanding the art world means exploring its fringes. This is exactly what Los Angeles and New York gallerist Anat Ebgi encourages by recommending Martin Herbert’s Tell Them I Said No. This collection of essays investigates artists who have chosen to retreat from or confront the established norms of the art world.
The book critiques the prevailing expectations for artists to engage in self-marketing and maintain a public presence. For collectors looking for a more rounded understanding of the art market, Ebgi believes it’s an essential read.
“Martin’s essay collection offers a different view of the art world through compelling examples of artist refusals,” said Ebgi. “It’s an attitude toward the art world that people don’t always consider, and that’s precisely why it stands out. It was a great reminder to be discerning. Taking a step back can be just as valuable as diving right in.”
Seven Days in the Art World, 2008
Author: Sarah Thornton
Recommended by Jessica Silverman, founder of Jessica Silverman
Cover of Seven Days in the Art World, 2008. Courtesy of W. W. Norton & Company.
San Francisco gallerist Jessica Silverman picks a book close to her heart: Seven Days in the Art World by her wife, Sarah Thornton. This ethnographic exploration dives into the subcultures and niches that compose the contemporary art world. This book takes readers into the art scene through day-in-the-life narratives, giving a glimpse into the different facets and corners of the art industry today.
“Whether you work in the art world or want to explain it to family or friends, Seven Days in the Art World by Sarah Thornton is the go-to book,” said Silverman. “Every chapter immerses the reader in different areas—the auction, the crit, the fair, the biennale—making you feel that you are in the room. I may be biased because my wife wrote the book, but it is a classic.”
Boom: Mad Money, Mega Dealers, and the Rise of Contemporary Art, 2019
Author: Michael Shnayerson
Recommended by Adenrele Sonariwo, founder of Rele
Cover of Boom: Mad Money, Mega Dealers, and the Rise of Contemporary Art, 2016. Courtesy of PublicAffairs.
Adenrele Sonariwo, the founder of Rele, was recommended Boom: Mad Money, Mega Dealers, and the Rise of Contemporary Art by Michael Shnayerson by a collector. The book offers an entertaining overview of the art market’s rapid growth in the 20th century. Starting from the market’s beginnings in post-war America, Shnayerson traces the meteoric rise of mega-galleries, blue-chip artists, and the world of art collecting throughout the 20th century.
“The book gives insights into the contemporary art world and the key players—gallerists/dealers and collectors,” said Sonariwo. “Very entertaining and interesting read for anyone that has a keen interest in learning more about the contemporary art world.”
True Colors: The Real Life of the Art World, 1996
Author: Anthony Haden-Guest
Recommended by Anne-Claudie Coric, director at Templon
Cover of True Colors: The Real Life of the Art World, 1996. Courtesy of Atlantic.
Since it was published in the 1990s, True Colors: The Real Life of the Art World by Anthony Haden-Guest has remained a top pick for Anne-Claudie Coric, director of the multinational gallery Templon. “I read this as I started working in the New York art world back in the ’90s, and it clearly [laid] out the different players at the time,” said Coric. This book was pivotal for Coric when she first started working in the New York art world in institutions such as the Museum of Modern Art and galleries such as Galerie Lelong & Co.
Haden-Guest spent two decades reporting this book, which offers a comprehensive view of how the contemporary art world catapulted artists into international stardom throughout the ’80s.
“It is probably a bit dated, but for new collectors, it offers a great testimony of an era that contributed to structuring the vision of the art market as we know it today: the supremacy of the American market and its ‘operating system,’” said Coric.
Seeing is forgetting the name of the thing one sees, 1982
Author: Lawrence Weschler
Recommended by Nick Olney, director at Kasmin
Cover of Seeing is forgetting the name of the thing one sees, 1996. Courtesy of University of California Press.
Reflecting on his early days in the art world, Nick Olney, director at Kasmin, credits Seeing is forgetting the name of the thing one sees by Lawrence Weschler as a pivotal influence. “I feel lucky to have had Weschler’s book recommended to me at the beginning of my career,” said Olney.
The book, which details the career of the famed installation artist Robert Irwin, spans three decades of dialogue between artist and author. It covers significant projects like the Central Gardens at the Getty Museum and the Dia Beacon campus transformation that opened in 2022, a year before the artist passed away.
“It taught me early on how to understand at a deeper level that art is not a hermetic thing but is contiguous with the world and can expand our perception of our environment,” Olney said. “And that if you’re interested in having a meaningful and lasting connection between art and life, the best quality to cultivate is enduring curiosity.”
Ways of Seeing, 1972
Author: John Berger
Recommended by Charles Moffett, founder of Charles Moffett
Cover of Ways of Seeing, 1972. Courtesy of Penguin Classic.
New York tastemaker Charles Moffett first read John Berger’s seminal Ways of Seeing as an undergraduate student and then again in graduate school. Based on the BBC television series presented by Berger, Ways of Seeing examines how and why we look at art the way we do. The book continues to guide Moffett as he navigates the fast-paced art world.
“The market moves so fast and days go by in a blur that often we talk about art without taking the time to actually look at it,” he said. “We’re so accustomed to jargon and specific words in the art world that we can easily forget the basics of looking at a work of art and simply talking about what we see rather than what we think we’re supposed to say.
“To me, the most enriching conversations about art, whether with artists, collectors, curators, or anyone coming into the gallery, are the most unmediated and unfiltered, and Berger’s book is an exquisite yet simple reminder of that truth.”
Exit Interview, 2024
Author: Benjamin H. D. Buchloh and Hal Foster
Recommended by Jose Kuri and Monica Manzutto, founders of kurimanzutto
Cover of Exit Interview, 2024. Courtesy of no place press.
Jose Kuri and Monica Manzutto, founders of Mexico City’s kurimanzutto, recommend Exit Interview, a revealing book that features a series of candid discussions between art historians and critics Benjamin H. D. Buchloh and Hal Foster.
The dialogue delves into the complexities of art criticism and its impact on the art world. According to the gallerists, the book offers “an honest and direct recount of [Buchloh’s] life with his colleague Hal Foster, showing how life and art are one and the same interwoven fabric.” Through these conversations, readers gain insights into the intellectual journeys that shape critical perspectives in contemporary art.
The Other Side: A Journey into Women, Art and the Spirit World, 2023
Author: Jennifer Higgie
Recommended by Irene Bradbury, senior director at White Cube
In The Other Side: A Journey into Women, Art and the Spirit World, Jennifer Higgie revisits the often-overlooked contributions of women artists who intertwined their creative output with spiritual practices, from the mystical visions of the 12th-century nun Hildegard of Bingen to the abstract expressions of the painter Hilma af Klint. That’s why Irene Bradbury, a senior director at White Cube, praises this work for bringing these pioneering women into the limelight.
“I personally found it riveting to read about the risks women undertook to engage with these alternative and visionary practices, the communities they created, and how they were misunderstood or even villainized as eccentrics for doing so,” said Bradbury. “Yet Higgie reveals the true impact of their discoveries, not only in inspiring certain male counterparts.”
Leo and His Circle: The Life of Leo Castelli, 2010
Author: Annie Cohen-Solal
Recommended by Javier Peres, founder of Peres Projects
Leo Castelli was one of the most influential art dealers in history, playing a pivotal role in shaping the contemporary gallery system as we know it. That’s why Javier Peres, founder of Peres Projects, selected Leo and His Circle: The Life of Leo Castelli by Annie Cohen-Solal.
“It paints a real picture of someone that’s synonymous with some of the most revered artists and artworks of the past 60–70 years,” said the gallerist, who operates branches in Berlin, Seoul, and Miami.
Peres views the book as a foundational text for understanding the art world in its current form. “It really highlights the importance that dealers can play in the art world and how vital galleries are to the ecosystem,” Peres said.
“I think this is particularly important and poignant at the moment when galleries are under threat and pressure from every angle (rising costs to operate; overreaching and unreasonable expectations from various parties; the demands of remaining active on a global level, participating in art fairs, attending functions, openings, etc.; competition from larger galleries; etc.).”
African Artists: From 1882 to Now, 2021
Author: Chika Okeke-Agulu and Joseph L. Underwood
Recommended by Trevyn McGowan, co-founder of Southern Guild
Trevyn McGowan, the co-founder of Cape Town’s Southern Guild, endorsed African Artists: From 1882 to Now as an indispensable resource for collectors new to the African art scene. Covering over 300 artists, including well-known figures like William Kentridge and Julie Mehretu, as well as lesser-known talents, the book pairs stunning artworks with insightful commentary to showcase their impact on various art forms.
“Beyond instantly recognizable names, such as Southern Guild’s Zanele Muholi, the book also does a great job of shining light on artists that are often underrepresented,” said McGowan. “This is a must-read for anyone who is looking to engage meaningfully with African artmaking practices on a broad scale.”
Emily Hall Tremaine: Collector on the Cusp, 2001
Author: Kathleen L. Housley
Recommended by Michael Findlay, director of Acquavella Galleries
Michael Findlay, director of Acquavella Galleries, offers insight on how to start collecting through his recommendation of Emily Hall Tremaine: Collector on the Cusp by Kathleen L. Housley. This biography chronicles the discerning taste of 20th-century art director and noted society figure Emily Hall Tremaine, whose collection spanned works by the likes of Piet Mondrian and Andy Warhol. According to Findlay, she did it “by building direct personal relationships with artists, dealers, curators, and fellow collectors.”
“The art world now may be larger and more complex than in her time, but I strongly believe the great collections are still built by hands-on personal choices and by constantly engaging with art directly in galleries and artists’ studios,” said Findlay.
Maxwell Rabb
Maxwell Rabb is Artsy’s Staff Writer.
