Includes bibliographical references and index.

In a series of beautifully paced narratives, Sarah Thornton investigates the drama of a Christie's auction, the workings in Takashi Murakami's studios, the elite at the Basel Art Fair, the eccentricities of Artforum magazine, the competition behind an important art prize, life in a notorious art-school seminar, and the wonderland of the Venice Biennale. She reveals the new dynamics of creativity, taste, status, money, and the search for meaning in life. A judicious and juicy account of the institutions that have the power to shape art history, based on hundreds of interviews with high-profile players, Thornton's entertaining ethnography will change the way you look at contemporary culture.--From publisher's description.