I Sold Andy Warhol (Too Soon) by Polsky: Art Market conundrum

By April MacIntyre May 14, 2011, 20:07 GMT

A released paperback edition of art dealer and collector Richard Polsky’s memoir, I Sold Andy Warhol (To Soon) is out (on Other Press; April 29, 2011; $15.95), in which the author recounts the story of what happened when he reluctantly parted with his Andy Warhol “Fright Wig” painting.

Only two years after selling for a substantial profit, he watched in disbelief as his Warhol quadrupled in value, while the art market soared to the Stratosphere.

When Polsky attempts to reinvest his profits, he finds himself caught up in a conundrum: how do you buy a painting in a market that’s galloped beyond your means?

When published in hardcover, this “vivid and detailed portrait of the booming high-end art market” (New York Observer) was hailed as a “thoroughly delightful” (Houston Chronicle) and “wild ride” through the duplicitous maze of buying and selling contemporary art, and Polsky was deemed the “Rodney Dangerfield of the art dealers…someone not afraid to take a stand on the real value of an artist” (San Francisco Chronicle).

Polsky is also the author of the upcoming book, THE ART PROPHETS: The Artists, Dealers, and Tastemakers Who Shook The Art World, coming in October from Other Press. I look forward to hearing from you.

From the publisher, Background:

In early 2005, Richard Polsky decided to put his Warhol Fright Wig up for auction at Christie's.

The market for contemporary art was robust and his picture sold for $375,000.

But if only Polsky had waited as prices soared to the outer limits.
In I Sold Andy Warhol (Too Soon), Polsky leads the way through this explosive, short-lived period when the "art world" became the "art market."

He delves into the behind-the-scenes politics of auctions, the shift in power away from galleries, and the search for affordable art in a rich man's playing field. Unlike most in the art world, Polsky is not afraid to tell it like it is as he negotiates deals for clients in New York, London, and San Francisco and seeks out a replacement for his lost Fright Wig in a market that has galloped beyond his means. A compelling backdoor tell-all about the strange and fickle world of art collecting, I Sold Andy Warhol (Too Soon) takes an unvarnished look at how the industry shifted from art appreciation to monetary appreciation.

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