6min chapter

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485. “I’ve Been Working My Ass Off for You to Make that Profit?”

Freakonomics Radio

CHAPTER

The Hidden Side of Everything

In october 19 73, southerby's auction house in new york held a sale of contemporary art. It came from the collection robert and ethel skull, who had made their money running a taxicab empire. Southerbys broke several records that night, selling 50 pieces for a total of two point two million dollars on average. That's forty four thousand dollars per piece. The sale turned out to be the start of a craze that has only accelerated ever since.

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