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Episode 189: Why A Dead Shark Costs $12 Million

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Episode 189: Why A Dead Shark Costs $12 Million

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Episode 189: Why A Dead Shark Costs $12 Million

Episode 189: Why A Dead Shark Costs $12 Million

  • Download
  • <iframe src="https://www.npr.org/player/embed/230950901/230963358" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">

"The Physical Impossibility of Death in the Mind of Someone Living," by Damien Hirst. Regina Kuehne/Keystone/AP hide caption

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Regina Kuehne/Keystone/AP

On today's Planet Money: Why a dead shark costs $12 million, and a photo of steel wool that looks like a tornado costs $1,265.

In other words, we wade into the economics of the art world.

Here's a slide show with some of the works we talk about in the podcast:

For more, read Ed Winkleman's blog and check out his gallery. Browse the works of Matthew Albanese, the man behind the steel-wool tornado. And read "Art Investment as Floating Crap Game" by William Baumol, an economist and artist.

Note: This episode was originally posted in 2010.

Music: Sia's "Clap Your Hands." Find us: Twitter/ Facebook/Spotify/ Tumblr. Download the Planet Money iPhone App.