3min chapter

Freakonomics Radio cover image

484. “A Fascinating, Sexy, Intellectually Compelling, Unregulated Global Market.”

Freakonomics Radio

CHAPTER

The Art Market Isn't Like Any Other Market

Magnus resh created an ap which he named magnus. It's meant to be a chazam for contemporary art. You point your phones camera at a work of art in a gallery and the ap gives you information on price, ownership, et cetera. We gathered over one point five million pricep from galleries through crowd saucing. But then apples shut us down because all the galleries complained. One of the lopsided figures at resh sited has become even more lopsided lately. The top 20 artists now make up nearly 50 % of the auction market for post war and contemporary art.

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